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Case Study: Queen Anne 9

Information

Details

Type: 9 Unit Apartment Building

Acquired: April 2008

Sold: March 2014

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Description

Built in 1968 and owned by the same family for over twenty years, this property was in need of significant repairs on the interior and exterior due to years of deferred maintenance. Casey & Jason identified the scope of work needed in a short amount of time and executed a $245k repositioning program consisting of windows, roof, siding, landscaping, interior and common area improvements. They increased the monthly income 47.8% in the first 18 months, stabilized the asset, refinanced and returned 35% of the capital to investors by year three. During a turbulent economy, this investment provided safe and steady returns for our clients, outperforming the Dow Jones in the same time span by 267%.

Before Photos

After Photos