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
Gross profit of almost one million.
With an $850,000 capital improvement plan, Golden Bee Properties gutted and rehabbed this 16 unit property located in City of Inglewood.
In just 18 months, Golden Bee Properties repositioned, re-leased and sold this asset for a gross profit of nearly $1,000,000.
Investor level internal rate of return (IRR) was just over 32%.
Significant Exterior Renovations
85% increase in gross rent
Building Facts
Building
2 Story
Units
12 – 2 Bedroom | 2 Bath
2 – 3 Bedroom | 2 Bath
2 – 1 Bedroom | 1 Bath
Townhouse Style
Building SF
13,918
Parking
32 Spaces
Investment Details
Price
$3,500,000 – Purchase
$6,200,000 – Sale
Price per Unit
$218,750 – Purchase
$387,500 – Sale
GRM
12.5 – Purchase
13.7 – Sale
Cap Rate
5.2% – Purchase
5.1% – Sale
1
Gross Profit
18
Months Hold
32
Internal Rate of Return