We purchased this 20-unit apartment complex  in 2017 as an under performing asset with the goal of turning it around into a Turnkey Multi-Family Investment.  When we acquired it, the property was suffering from high vacancy rates, substantial deferred maintenance, and several tenants who were delinquent on rent. The units, along with common areas, were in dire need of attention, as years of neglect had negatively effected this asset. First, we addressed the most critical maintenance issues, focusing on structural repairs, plumbing, and electrical updates, to create a solid foundation for our vision. From there, we invested in thorough renovations for each unit, prioritizing durable materials and better designs to not only improve the visual appeal but also reduce ongoing maintenance. These upgrades included high-quality flooring, energy-efficient lighting, and new appliances that were both appealing to tenants and easier for us to manage over time.

Our renovations extended beyond the interiors; we also revamped shared spaces and added amenities that encouraged a community feel, knowing that a well-maintained and comfortable environment would increase tenant satisfaction and retention. By providing an appealing, functional, and reliable place to live, we attracted responsible, long-term tenants, reducing turnover and stabilizing income. As a result of these enhancements, we were able to bring rents up to market rates, justifying the value tenants found in the improved property.  The renovations decreased maintenance costs and operational issues, leading to smoother management, while our tenants enjoyed upgraded units that met their needs and expectations. Ultimately, this project not only revitalized the complex but also transformed it into a stable, high-yield investment. Our goal with any turnkey large-multi family project is to take non-performing assets through our business model, turn into a performing asset.

To learn more about our in-house property management company, Turnkey Property Management,  go to www.Turnkeypmg.com.

To learn more about our Turnkey Process, visit the link on our website, Turnkey Process.