Case Study

Multifamily

Oregon Multifamily Community Increases NOI by $66k Annually

Eugene, OR

$1.1 MM in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: $66,000+ in Annual Premium Savings | $1.1 Million in Added Property Value

NFE Solution: LOMA; FES

A cold call from National Flood Experts paid off big for an Oregon-based Property Management and Investment firm - to the tune of $66K in annual savings and a major boost to NOI and property value as well.

Based on area data, NFE's in-house research team pre-qualified the Client's multifamily asset in Eugene, OR, as having a high likelihood of cost-saving solutions. NFE contacted the company's Porfolio Manager to share more information about our services and what we thought may be possible for the property, and they were interested in exploring what solutions might be available.

For this Eugene, OR, multifamily property with 20 buildings impacted by the Special Flood Hazard Area (SFHA), NFE's engineering team conducted the initial desktop review, which confirmed the high likelihood that many, if not all, of the A-Zone buildings would qualify for removal from the SFHA through a Letter of Map Amendment (LOMA). Due to the complex and understudied nature of A-Zones and to fully confirm the solution, additional property-specific data was required. The Client agreed to have NFE perform a Flood Expert Survey (FES) of the property. NFE's in-house Field Experts visited the property and meticulously collected all required data. After thoroughly reviewing the new data, and completing complex modeling, NFE's engineers qualified all 20 buildings for a LOMA.

Upon approval by FEMA, the LOMA removed the 20 buildings from the SFHA and into an X Zone. With the LOMA in hand, the Client's lender released the mandate for flood insurance for the entire property. As a result, the Client's flood insurance expenses decreased by more than $66,000 annually. This reduction improved the property's net operating income (NOI) and increased the property's value by approximately $1.1 million, assuming a 6% CAP Rate.

View Other Case Studies

Image of Multifamily property for Multifamily Property Adds $75K in Value

$75K in Added Property Value

Multifamily Property Adds $75K in Value - Texarkana, AR

Learn how National Flood Experts helped a client increase the value of their multifamily property in Texarkana, AR, by $75,500. Through NFE’s comprehensive engineering review, one building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $4,500+ while also increasing property value.

Image of Multifamily property for Property Reclassified to X-Zone Prior to Acquisition

NOI Boost on Day 1 of Ownership

Property Reclassified to X-Zone Prior to Acquisition - Canton, MI

A 36-building mulitfamily property experienced a significant boost to NOI on Day 1 of ownership due to a rush review and LOMA success by the National Flood Experts team. Thanks to the LOMA, the new owners were not required to place lender-mandated flood insurance and excess flood insurance on the property - talk about major savings and red tape avoided!

Image of Multifamily property for 19 of 29 Buildings Removed from SFHA

$365K+ Added in Property Value

19 of 29 Buildings Removed from SFHA - Coral Springs, FL

On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.