Strategic Approach

The Federal St Portfolio consisted of two duplexes and two single family homes. The former owner had their rental licence revoked by the city, forcing him to sell, allowing the units to be acquired at an attractive basis. Burlington is a renter city with rising income The vision was to provide an unmet demand of higher quality rental units.

Value-Add Plan

Upon acquisition, all non paying tenants were evicted and full renovation began. Bedrooms were added, floorplans improved, utilities were upgrade along with interior and exterior finishes. Through in depth tenant screening, quality tenants were selected providing a steady, above market cash flow. Efficiencies in construction were gained due to all units being adjacent to each other - increasing speed and lowering cost.

Property Metrics

Deal Type: Buy, Renovate, Rent, Refinance

Acquisition Method: Off Market Acquisition

Property Type: Six Residential Units

Financial Metrics

Purchase Price: $265,000

CapEx: $180,000

Est. Appraised Value: $1,050,000

Annualized Return upon Completion: 91%

Duration: 18 Months