Portfolio Project
White Ave. Apartments
The Story
Acquiring a building built in the 1930’s presents its challenges and opportunities. Both structurally sound and mostly remodeled when acquired, the building needed some TLC in the form of property management and a proper leasing program. A new central heating system was installed, and only minor other improvements were completed. However, leases were brought up to market rates, thereby increasing the net income and overall value of the building for a quick 22% return in 18 months.
The Details
Acquisition Price: $845,000
Amount Invested: $100,000
Total Investment: $945,000
Sale Price / Value: $1,150,000
Profit: $200,000
Total Return on Investment: 22%
