PURCHASE: $675,000

FINANCING: Conventional 30 Yr Fixed @ 3.875%

REHAB: $150,000

ARV: ~$950,000

STRATEGY: BUY AND HOLD / VALUE ADD / DEVELOPMENT
Addressed deferred maintenance, converted SFH to Multifamily and increased below market rents. Full top to bottom renovation having B-Class finishes to attract B-Class tenants in C-Class neighborhood. Renovations included new kitchens, new floors, saved most of the original hardwood, new bathrooms, new electrical and plumbing, interior and exterior paint, and replacement of all original windows.

SUCCESS: Attracted great tenants, and property has been performing well renting per room with overall ~30% COC. Our team reassess asset performance periodically to determine best use of equity.