Everest Gardens
Bradenton, Florida
EXAMPLE
Project Highlights
- Holding period of -2 years
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Reposition from “C” to “B” 320%
Increase in income in 2 Years
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- Projected IRR: 18%
- Purchase date: 2022
- Number of units: 297
- Implemented interior and exterior renovation
- Reduced expenses from 65% of egi to 41% of the egi
- Increased income in two years from $170k to $544k (320%)
- Projected irr: 18%
- Refinanced in July 2024, from bridge loan to fixed rate loan
- Increased loan from $37.8mm to $41.3m to distribute cash to investors