Is a $2.65M apartment complex in Florida actually a good deal? Let’s break down the math on this 28-unit property in Gainesville: Purchase Price: $2.65M ($95k/unit) Capex (Renovations): $400k Total All-In Cost: ~$3.05M Current Average Rent: $1,050/month Renovated Rent: $1,250/month ( $200 increase per unit) Projected NOI Growth: $200k to ~$260k Estimated Future Value: $3.5M (at a 7.5% cap rate) After paying off the $2.25M loan and returning the initial $800k investment, that leaves $650k in prof
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Is a $2.65M apartment complex in Florida actually a good deal? Let’s break down the math on this 28-unit property in Gainesville: Purchase Price: $2.65M ($95k/unit) Capex (Renovations): $400k Total All-In Cost: ~$3.05M Current Average Rent: $1,050/month Renovated Rent: $1,250/month ( $200 increase per unit) Projected NOI Growth: $200k to ~$260k Estimated Future Value: $3.5M (at a 7.5% cap rate) After paying off the $2.25M loan and returning the initial $800k investment, that leaves $650k in prof
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