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Brentwood Apartments

Brentwood Apartments

About This Property

Plus One Capital acquired the Brentwood Apartments in the summer of 2011. After having owned the property for just over 2.5 years, we have already returned over 46% of investors’ original investment capital. With the all-in project cost of $1,843,208, this 12 unit Eastlake property is currently valued at $3,079,000 based on a conservative 5.0% capitalization rate. The “Plus One” concept came into effect by adding one bedroom to 10 of the existing 12 apartment units, which created most of the value within the scope of the project. Our original projected rental income estimate was excessively conservative. The income actually grew by much more than our 64% of our original projections. The rental income, in fact, grew by 80.6% from the time of initial acquisition

Listing Detail
  • Portfolio Property:
  • 2919-2923 Franklin Ave E
  • 15 Units:
  • All-in project cost:
  • $1,843,000
  • Est. current value:
  • $3,750,000
  • Owned:
  • 7 years

Additional Photos