Investment Type
Multi-Family Residential
Year

2017

Exterior Renovations
  • Modern Paint & Accents
  • New Stucco
  • New Windows
  • Exterior lighting
Interior Renovations
  • New Electrical
  • Renovated Kitchens and Bathrooms
  • Stainless Steel Appliances
  • New flooring & paint

Increased the assets value by 56%.

Purchased in early 2017; the property was gutted and all eight unites were rehabbed, increasing the assets value by 56%. In March 2018, the asset was sold, approximately 12 months after purchase. The investors received all of their initial capital investment along with all profits at the time of sale.

The composite internal rate of return (IRR) as of March 2018 was 45.3%.

Complete Renovation

56% increase in value

Building Facts

Building

2 Story

Units

7 – 2 Bedroom | 1 Bath

1 – 2 Bedroom | 2 Bath

Building SF

8,532

Parking

8 Garage Spaces
+8 tandem spaces

Investment Details

Price

$1,437,000 – Purchase

$2,240,000 – Sale

Price per Unit

$180,000 – Purchase

$280,000 – Sale

GRM

16.3 – Purchase

11.5 – Sale

Cap Rate

2.7% – Purchase

5.6% – Sale

1

Gross Profit

12

Months Hold

45.3

Internal Rate of Return