Grand Prarie, Texas
Another Suite Going In!
Tenant Improvement Suite
$1mm rehab project including roof, electrics, HVAC, interior walls and supports.
Lease up, property management and sale out.
Pre-Demo and Rehab
$1.2 million dollar increase in asset value
$1.5mm Exit Value - $2.7mm
97 Units | 2 Stories | Built 1984
Turn Time: 24 mos.
$23k -> $46k monthly income
$2.1 million dollar increase in asset value
$6.5mm Acquisition Exit Value - $8.6mm
151 Units | 3 Stories | Built 1984
Turn Time: 18 mos.
$65k -> $85k monthly income
Port Isabel / South Padre Island
Value add project required multiple unit rehab, in addition to pushing rent to market rates, which added significant value to sales price.
See Loopnet for details -