Case Study
Barberton 34 Apartments
Complete renovation, lease-up, and refinance.
Purchase Price
Renovation Budget
After Repair Value (ARV)
Equity Created
Debt Partner Profit ($600k loan)
- Purchased this 34-unit apartment complex in October 2022 for $1.2M ($35k per unit), thanks to our Broker network (Pocket listing).
- Average rents at acquisition were $520, market rent was $750+.
- We had to act quickly—walked the property the same day we underwrote the deal. Got it under contract within 2 days and closed within 45 days.
- Brought in professional property management on day 1 and rolled out a steady rent increase plan, combined with light renovations averaging $600–$2,000 per unit. This allowed us to minimize vacancy while increasing cash flow.
- Our exterior updates included new signage, fresh branding with a new name and logo, and consistent property walkthroughs to keep things in check. We held weekly meetings with our PM, removed problem tenants, and adjusted strategy as needed to stay on course.
- 20 months later: Average rent increased to $785/month, property appraised at $2.5M.
- We completed a successful agency cash-out refinance at $1.6M, with a 6.51% interest rate and 2-year interest-only term.
- Repaid seller financing of $720k, and debt investors $600k (after $120K in interest payments).
Looking For Help?
Join our growing investor network to access exclusive multifamily investment opportunities.
Ready to Start Building Passive Income?
Join our growing investor network to access exclusive multifamily investment opportunities, learn strategies for tax savings, and grow your wealth through real estate.
