This was TDI’s first deal. It provided many learning opportunities that we refined and applied to future projects. This 16-unit apartment building was outdated, and rents (average $650/mo) were well below the market average. A full renovation was completed, and units were re-leased. The improved property now commands much higher rents and currently averages $1,245 per unit. Current market value is $3.4M.
FUNDED: 100%
STATUS: Completed
Purchase
$1.36M
After Repair Value
$2.70M
Net Gain
$1.00M
Property type: Multi-family
Building type: 3 Story Walk-Up
Number of Units: 16
Investment Type:
Projected Annual Return: 25%
Total Equity Required:
Minimum Investment:
PROPERTY PHOTOS
