This value-add property was acquired in April of 2018. The property was residential to office conversion with a full renovation of the interior and exterior of the building.
Renovation details include:
- New flooring
- Painting interior and exterior
- Paving and site work on the exterior
- Complete landscaping
- New electrical and plumbing
- The building was made ADA compliant with a wheelchair ramp, handicap parking space and an ADA accessible restroom
Construction process- 4 months
Period of time listed - 3 months
Total holding period - 6 months
Return on Investment + 26%
Our investment team does ongoing market research and site analysis to determine the best locations geared towards our investment strategy.
We perform site inspections and consult with general contractors and architects to identify property improvement opportunities and cost estimates.
We do extensive property analysis including underwriting property historical cash flow, three tiered income modeling, future cash flow projections and IRR and cash on cash return profitability models.
Our team underwrites the current tenants and reviews all current lease agreements to determine an appropriate credit grade of the property and identify opportunities for improvement.