CASE STUDY

MOORESVILLE EIGHTPLEX
MOORESVILLE, NC

In 2010, we purchased this multifamily apartment. Through due diligence, we realized the price was severely undervalued due to the recent recession. We also saw value in our ability to raise rents with minimal CapEx and attract a stronger tenant base thanks to a strong Mooresville school system that is nationally recognized. 

CHALLENGES BEFORE ACQUISITION:

  • Weaker Tenant Base

  • Below Market Rents

VALUE PLAYS AFTER ACQUISITION:    

  • Bought Right by Finding Off Market Deal

  • Purchased Property at the Right Time

        in the Market Cycle

  • Increased Rents to Market Rent as Leases Expired

PURCHASE PRICE: $415K (2010)

SELL PRICE: $550K (2015)