Case Study
A Case Study
Property Name:
Marina Point Appartments
Year built
1965
Location
Chesapeake, VA
# of Units
104
Purchase Price
$9,250,000
Role
Co-Sponsor
Business Plan
Ths business plan focused on renovating 45 units and bringing them to market rent while simultaneously improving the property’s culture and economic occupancy through professional property management onsite.
Before
After
The Results After 22 Months
Purchase Price:
$9,250,000.00
Sale Price
$14,150,000.00
Total ROI
86.98%
Projected ARR
17.00%
Actual ARR
47.45%
Projected IRR
14.80%
Actual IRR
44.79%