4443 Willow Brook – Sold!
We just exited another deal: 4443 Willow Brook, a 12 unit building in rapidly gentrifying East Hollywood.
Here’s an exterior pic:
Here are the numbers:
- Acquired for $925k in July 2010
- Renovated for $700k
- All in for $1,625,000
- Rent roll of approximately $217,000 / year when we stabilized it
- Extracted approximately $200,000 in cashflow while we owned it
- Sold for $2,095,000 on Friday
That makes the ROI 36% after costs of sale and with no leverage.
And you know what else? The new owners got a great deal. They bought it from us for less than 10x the rents, so their return is going to be 10%+ / year.