AVENUES FOURPLEX REHAB

OVERVIEW

We purchased this tired and delapitated 4 unit apartment building and went to work.

  • New Front Doors, Siding and Windows
  • New Exterior and Interior Paint
  • Added Mini-Split with Heat Pump
  • Added Gutters
  • New Landscaping
    Short Term Unit
  • Tankless Hot Water Heater
  • New Kitchen/Granite
  • New Interior/Exterior Paint
  • New Bathroom
  • New Floor/Base
  • Added Laundry Closet
  • All New Electrical Finishes/Fans/Lights
  • All New Trim Carpentry
  • New Doors
  • More!

All work done by RepairPro

Purchase: 495K
Rehab: $100K

Completion: Purchased October 2020 | Completed April 2021

Units: 4 (1 Bedroom Units) 

1 Fully Furnished Short Term/Vacation Rental, 3 Long Term Units

BUDGET

45K

20K

  • Unit 2 HVAC and Updates
  • Unit 3 HVAC and Updates

35K

  • Exterior Windows, Doors, Siding, Paint

ROI & OUTCOME

Before
Unit 1 Income $8,200/year
Unit 2 Income $8,200/year
Unit 3 Income $8,200/year
Unit 4 Income $8,200/year

After
Unit 1  Income $27,900/year (Est. $155/night, 50% Vacant)
Unit 2  Income$15,120/year
Unit 3  Income$15,120/year
Unit 4  Income$15,120/year

Gross Increase $40,460/year
Cost of Improvements $100,000
40.46% Return

PHOTOS

Unit 1 was upgraded, including laundry, HVAC, dishwasher, kitchen and more.

BEFORE & AFTER