Multi-Family Residential
Year
2019
Exterior Renovations
- Metal work & Gated entry
- Modern Paint & Accents
- Intercom & Camera system
- Windows & Sliders
Interior Renovations
- High-end Finishes
- Stainless Steel Appliances
- New Central AC w/ Nest Thermostats
- New flooring & paint
Set new price per unit standard for Inglewood.
With a $400,000 capital improvement plan, Golden Bee Properties gutted and rehabbed this 7 unit property located in City of Inglewood.
In just 13 months, Golden Bee Properties repositioned, re-leased and sold this asset for a gross profit of nearly $600,000.
Investor level internal rate of return (IRR) was just over 35%.
Significant Exterior Renovations
85% increase in gross rent
Building Facts
Building
2 Story
located 1/4 mile from Downtown Inglewood
Built in 1987
Units
7 – 2 Bedroom | 1.5 Bath
Townhouse Style
Building SF
8,532
Parking
13 Covered Spaces
Investment Details
Price
$1,810,000 – Purchase
$2,895,000 – Sale
Price per Unit
$259,000 – Purchase
$414,000 – Sale
GRM
16.5 – Purchase
14.3 – Sale
Cap Rate
4.0% – Purchase
5.1% – Sale
600
Gross Profit
13
Months Hold
35
Internal Rate of Return