Situated in close proximity to Miami International Airport, this 24-unit property offers immediate returns of 6% post-closing. Our strategic plan involves aligning rental rates with current market levels, undertaking renovations on units in need of updates, and overall stabilizing the property to unlock a remarkable return that surpasses 12%. This investment epitomizes a “value add” opportunity, showcasing the acquisition of an underperforming property at a discount, followed by a meticulous stabilization process that significantly enhances both its value and returns.
Purchased for $1.8 million in 2016, this property has undergone a transformative journey, culminating in a recent sale at $4 million in 2022. Our commitment to maximizing value was realized through effective rental increases, strategic leasing initiatives, and targeted capital improvements. This success story exemplifies our proficiency in identifying and unlocking untapped potential within real estate investments, resulting in substantial gains for our investors.