PORTFOLIO

Meadowdale – Clinton Twp, MI

Purchased with seller financing, with interest only for 6 months, in order to push capital into improvements, both interior and exterior.

All apartments except one are renovated.

Rents have been increased by $200-300 per month for apartments where renovations were completed, up from $650-$750 per month to $850-950 per month.

Before

After

Meadowdale_Apartments_Clinton_Twp_MI

Black Forest Apartment Complex

We are making drastic changes and much needed repairs to Black Forest Apartment Complex.  We are making it safe and functional for the tenants, as well as giving the units an aesthetic appeal.

We started the renovations with this complex by changing the name to River Ridge Apartments, to differentiate us from the previous owners.  Signage is on the way!

We are remodeling each unit as it is vacated, making necessary repairs that have been neglected by the previous owner, making them up to date with new paint color, flooring, and appliances as needed.

Since Purchase in November 2018:

Capital Improvements

  • Installed a new roof on Building A at a cost of $24000.
  • 14 inches of blown in insulation put into the attic of Building A.
  • Started window replacement in units of greatest need.
  • Replacing Patio Doors in units of greatest need first.
  • 100% leases and/or newly remodeled apartments reserved for occupancy March 1st.

 

C-11 Unit Remodel

This one bedroom, one-bathroom unit needed repairs and updating.  The carpet was worn and stained, countertops were damaged, and doors were damaged.

  • New Features
    • Windows
    • Full Light Patio Door
    • Trim: Base board, window & door, and crown molding
    • Flooring throughout entire unit
    • Interior doors
    • New Countertops
  • Rent Roll
    • We have increased rent from $583, the average of units in C building, to $650-700.
  • Cost of Remodel
    • The total cost of this remodel was $2800

Before

After

B-1 & B-2 Unit Remodel

Both units were unusable as they were and had not been rented out in years.  We had to completely gut both units, starting from a clean slate.

  • New Features
    • Drywall
    • Flooring
    • Kitchen cabinets & countertops
    • Interior doors
    • Windows
  • Rent Roll
    • Previous rent for the one bedroom, one bathroom unit was $400 per month. We have leases already signed on both B1 & B2, for $700 per month.
  • Cost of Remodel
    • The cost of the remodel is $7600 per unit

 

Before

After

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