Icon on Headley

Real cash flow. Real ownership. Real alignment.

Icon on Headley was acquired 35% below replacement cost

and it's already sending checks to investors.

No hype. Just results.

photo of suspension bridge during nighttime

Why we Love this Property!

Already cash flowing — investors are receiving monthly distributions

Purchased 35% below replacement cost — built-in equity from day one

~85% bonus depreciation projected for 2025 — strong tax advantage

Class B+ property in a stable, in-demand submarket

Majority 2–3 bedroom units (78%) — lower turnover, higher demand

Tucson is a market we know well — this is our 11th deal there.

photo of suspension bridge during nighttime
a large city filled with lots of tall buildings

Investment Details

6300 S Headley Rd, Tucson, AZ 85746

15% targeted IRR

136 Units

1.9 projected EM

1999 Build

~85% Bonus Depreciation

a large city filled with lots of tall buildings

We Invest Alongside You

Our CEO, Gary Lipsky, founded Break of Day Capital after experiencing firsthand how easy it is to fall into the wrong deals. Like many investors, he started without the tools to properly vet sponsors or opportunities—and paid the price. That experience shaped our mission: to protect capital through rigorous due diligence, operational excellence, and investor-first alignment.

Today, Gary has invested 90% of his personal net worth into Break of Day Capital deals—and he’s not alone. Our operations team has invested over $1.2 million of their own capital across our offerings.

Every property is personally vetted, conservatively underwritten, and directly operated by our team — no third-party sponsors, no pass-through structures, and no layers of fees.

That means:

-Full transparency into how each asset is performing

-Total alignment — because our success is tied to yours

Success Stories

" I also recommend this investment to others which I don’t do lightly."

"I spent 1 year getting to know Gary and made my 1st investment in November of 2020 with the Bella Vista Property which was re-branded as Midtown on Seneca in Tucson AZ. This property sold and had an impressive return, my best investment to date.

It was without hesitation I invested again with Gary in Icon on Stella, also in Tucson. In fact, I also recommend this investment to others which I don’t do lightly.

Gary’s expertise and execution of the business plan is and continues to be amazing. His communication with investors is impressive, updates are complete, and he is always willing to speak with me as an investor.”

- K. Trevor

"Gary and Joe are also quick to respond to my questions. "

“I am a conservative newbie investor who recently invested with Break of Day Capital. I have known Gary for a while and find him to be intelligent and resourceful; however, I only decided to invest with him after hearing glowing reviews from my friends and family who have been investing with him for years. I can now confirm that my experience with Break of Day Capital has been positive. They have been executing their business strategy effectively, producing results that exceed expectations. Their monthly communication provides easy-to-understand metrics that allow me to gauge the investment’s performance. Gary and Joe are also quick to respond to my questions. I would highly recommend them.”

- Alice

"They understand and have a strong feel of the markets they operate in"

"I’ve been investing with Break of Day Capital for the past 2 years and I have been extremely satisfied with their results. They understand and have a strong feel of the markets they operate in and I have much confidence in Gary and his team in finding the right deal. I also appreciate the transparency that Gary offers via the monthly newsletters which gives me insights into how my investments are performing. Their online platform is very user-friendly and provides an easy process to invest in deals, keep track of your portfolio etc. I know I can always contact someone on their team with any questions I have and will get a response quickly. All in all, just a nice boutique shop to work with. If you are looking to invest with someone trustworthy, I’d suggest giving Break of Day Capital some consideration."

- Sang

FAQs

Who can invest?

ACCREDITED INVESTORS ONLY

 An accredited investor  includes anyone who:

-Earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR

-Has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).

Can I invest through my LLC, Trust or IRA?

Yes. Investors are able to invest through their traditional self-directed IRAs. Investors are also able to invest through their LLC, LP, or Trust. Please contact Break of Day if you have questions about how this works or need help selecting a custodian.

How are distributions paid?

Distributions are sent via ACH and are typically distributed quarterly for Class B & C and monthly for Class A.  However it is common to not receive distributions during the first year of operation due to fact they are dependent on cashflow.

What are the risk with investing?

Although multifamily properties are often considered stable and safe among various investment asset classes, there is always risk to any investment. In order to manage risk, we leverage established relationships with local brokers to obtain “off-market” and “below-market” deals. We partner with local, experienced property management companies that know the neighborhood markets we invest in so the property is operated as efficiently as possible by optimizing income and reducing expenses. There are no guarantees in investing. We the sponsors invest our own personal capital into the deals so we have aligned interests and goals with the investors in the offering.

How long do I commit my money to an investment?

Investors can typically expect to commit their capital to a 3-5 year hold period before we employ an exit strategy, such as a refinance or sale. This time period varies based on the specific business plan being executed for each property. Economic conditions may alter the strategy. Investors will receive projected timelines upon acquisition of the property and throughout the life of the investment. We the sponsors will always attempt to remain consistent with the initial projection and will execute the strategy that results in the greatest returns for all investors.

What happens after I invest?

After you invest, we keep you informed and connected every step of the way. You’ll receive monthly email updates on your property’s performance and join us twice a year for Zoom calls covering the market and our full portfolio. Your K-1 tax documents are uploaded to the portal by March 31st annually, and all distributions and accrued preferred returns are tracked in the same portal for easy access.