Moses Kagan on Real Estate

4443 Willow Brook – Sold!

with 2 comments

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.

Win. Win.

Written by mjkagan

09/17/2012 at 11:02 am

Posted in Buying, Development, Success

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