Lofty 8094 W Zoe Ella Way

Townhouse with Loft in Gated Peoria, AZ Community

Offering Details

Jerry "Grits" Hester, transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
Tokens represent direct ownership in the LLC that owns the property. Jerry will maintain at least 10% ownership in the LLC indefinitely.
View proof of Jerry's ownership prior to the title transfer here. View proof of the title transfer to the LLC here. View the LLC documents here

Jerry is only the 2nd owner of this wonderful 3-bedroom plus loft condo. Updated and upgraded with quality items such as granite countertops, high-end shutters and more.
Master bedroom is on the ground level for more privacy. Epoxy floor garage. Gated Community with pools, spa, and clubhouse.
Walking distance to P83. Peoria’s upscale area with dining, shopping, hotels, and baseball spring training games.

Jerry “Grits” Hester is a 3rd generation US Military veteran. Jerry began investing in 2008, while working in law enforcement on violent crimes. He discovered that investigations and conducting investment research were very similar and investing is now more of a hobby than work. Jerry retired from LE after 25 years of service and remains at home to tend to his young children.
Jerry has a property in Surprise AZ with a tenant of 3 years.
Jerry has another property in Glendale AZ which is scheduled to rent in June 2025.
Due to interest rates remaining high, Jerry is seeking to utilize Lofty’s platform to increase the rental income on this 3rd property in Peoria AZ. This property rented a week after closing and remains occupied.
This Peoria AZ property is a few minutes from the City of Peoria’s “P83” area which has baseball spring training facilities; along with high-end restaurants and shopping. In addition, the property is 20 minutes away from the AZ Cardinals stadium, which is surrounded by luxury retail and entertainment amenities.
For property management, Jerry has been utilizing Service Star Realty, and they have a great relationship.
Jerry takes advantage of their air filter program. This program ensures air filters for the HVAC system are replaced periodically. When this service is performed, the trades person provides an update on the property’s current condition, offering owners peace of mind.

This property has a loan of $317,787.25. View the loan agreement here.
As the seller, Jerry Hester, pays down 100% of the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors have the ability to change this structure via a governance vote.
The lender did not give permission for the property to be transferred to the Wyoming LLC. If the lender activates the due on sale clause associated with the referenced loan, the Parties shall initiate the refinancing process within seven (7) calendar days of the clause's activation. View Signed Agreement