CINCINNATI, OHIO
23 UNITS
Purchase Price: $510,000
Renovations: $220,000
Total Equity: $780,000

SOLD $925,000

The property was marketed while in receivership (foreclosure) through a local broker and URS was able to leverage their success at Incline Apartments to considered a qualified buyer.

Acquired in 2011 as a highly distressed asset with less than 50% occupancy and in need a complete renovation. URS saw an opportunity to renovate and market the units to Section 8 residents due to their location and 3 bd/2ba townhome floor plans. This strategy would allow for longer term residents with consistent cash flow.

URS made quarterly distributions to investors throughout the holding period and returned capital and profits on sale proving again they can deliver according to Proforma.