Strategic Interventions
Rezoning for Higher Density
- Rezoned from A-1 (Light Industrial) to R-4 (High-Density
Multifamily).
- Outcome: Increased revenue potential through higher density.
Extensive Rehabilitation
- Budget: $1.1 million.
- New water system, sewer repair, full unit renovations, and upgraded amenities.
Stabilization & Market Alignment
- Rent stabilization to market values.
- Outcome: Achieved 98% occupancy within one year.
Financial Impact
14.6%
CAP Rate
$220,000
/Year NOI
$4,000,000
Appraised Value (2024)