Milford, OH Value Add, Buy & Hold

[Dj Hume]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Cincinnati.

A 24 unit multifamily building that was owned and operated by the same owner for 20+ years. This building has significant deferred maintenance along with mismanagement and tenants that were not screened prior to move in. This complex required a complete overhaul and repositioning, from full remodels of the interior to removing old tenants that didn't meet our minimum requirements to be a tenant within one of our communities. The upside is that current rents reflected the distress.

How did you add value to the deal?

Renovations - Send me a PM, I'd love to show you before and after pictures!

What was the outcome?

Over $500,000 of new value was created within 6 months and we still have 18 units we need to renovate