Kolumbia Gardens is located in the heart of Downtown Cloverdale. This 39–Unit building was purchased for 6.88M and was previously a stratified complex. The initial intention was to renovate and sell off as individual condo units. As the market shifted, we adapted with it and changed the strategy to a buy and hold. The shift in strategy removed the potential for financial losses and instead produced a successful outcome with an after-repair value of 11.5M and a current average rent of $1,371. Current Value is estimated at $13.5m.
FUNDED: 100%
STATUS: Completed
Purchase
$6.88M
After Repair Value
$11.50M
Net Gain
$2.5M
Property type: Multi-family
Building type: 4 Story Walk-up
Number of Units: 39
Investment Type:
Projected Annual Return: 15-50%
Total Equity Required: $2.5M
Minimum Investment:
Property Overview
PROPERTY PHOTOS
![KG - 007](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-007.jpg)
![KG - 006](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-006.jpg)
![KG - 005](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-005.jpg)
![KG - 003](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-003.jpg)
![KG - 002](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-002.jpg)
![KG - 001](http://topdowninvestments.com/wp-content/uploads/2022/02/KG-001.jpg)
![Kolumbia Gardens](http://topdowninvestments.com/wp-content/uploads/2022/02/Kolumbia-Gardens.jpg)
![Bedroom 2](http://topdowninvestments.com/wp-content/uploads/2022/03/Bedroom-2.jpg)
![Bedroom 3](http://topdowninvestments.com/wp-content/uploads/2022/03/Bedroom-3.jpg)
![Bedroom 4](http://topdowninvestments.com/wp-content/uploads/2022/03/Bedroom-4.jpg)
![Bedroom](http://topdowninvestments.com/wp-content/uploads/2022/03/Bedroom.jpg)
![Building](http://topdowninvestments.com/wp-content/uploads/2022/03/Building.jpg)
![Den](http://topdowninvestments.com/wp-content/uploads/2022/03/Den.jpg)
![Dining Room](http://topdowninvestments.com/wp-content/uploads/2022/03/Dining-Room.jpg)
![Dining](http://topdowninvestments.com/wp-content/uploads/2022/03/Dining.jpg)
![Bathroom](http://topdowninvestments.com/wp-content/uploads/2022/03/Bathroom.jpg)