Investment Experiences
Imagining the type of deals available can be tricky. Numbers such as initial investment and returns on investment vary greatly for each deal, but here are a few examples of deals we’ve completed in the past.
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Case Studies
MULTI-FAMILY RESIDENTIAL
The Oaks Living
This multi-family property involved a complex acquisition process of two separate, adjacent properties in order to combine them into a single 100-unit offering, The Oaks. The smaller, Oak Hill property actually has more spacious units, but was extremely distressed, requiring 22 of its 44 units to be completely renovated. Meanwhile, the already-stabilized Oak Ridge just across the street helped finance those renovations to provide Oak Hill with a 67% appreciation gain in just 18 months.
Initial Investment
Oak Hill
Purchase Price: $3.06M
18-Month ARV: $5.125M
TOTAL APPRECIATION: 67%
Rehab Plan
New LVP flooring
Interior and exterior paint
Installation of entirely new kitchen incl. cabinets, granite countertops, and stainless steel appliances
Result
Work finished 22 units in 18 months
Appraisal came in at $5.125M, allowing an early, sizable return after a cash-out refi
Project saw a 67% appreciation increase from Oak Hill alone, with a total monthly revenue increase of 41.5%
Single-Family Home
Benton Blvd., Kansas City, MO
This single-family home on Benton Blvd. was a great opportunity. At a purchase price of just $23,000, it had some work to be done. But what started out rough turned into a superb rental property and handsomely rewarded the investor. With about $20,000 in rehab costs, Benton was later appraised at $100,000. Refinancing the property allowed our investor to gain $32,000 on an initial investment of just $43,000 in less than 7 months from the initial contribution.
Initial Investment
Purchase Price: $23,000
Rehab Cost: $20,000
TOTAL COST: $43,000
Rehab Plan
New floors, including carpet in bedrooms and woodwork elsewhere
Interior and exterior paint
Installation of entirely new kitchen incl. cabinets, countertop, and appliances
Result
Work finished within 5 weeks
Appraisal came in at $100,000, putting remaining equity at twice the purchase price and allowing for $75,000 to be pulled back out
Project saw a 150% annualized return in 6 months and netted a $32,000 tax-free return
multi-unit aparments
E. 88th Terrace, Kansas City, MO
This two-building, 18-unit apartment property came complete with pool facilities, two saunas, meeting room, and additional storage rooms, all for $760,000. Five of the storage and meeting rooms will be converted back to apartment units to obtain a full 23-unit potential. Additionally, rental rates will be increased about 30% to be in line with market rates. Multi-family properties are valued at a multiple of their net income. Therefore, APEX expects to be able to refinance the building at an appraisal of at least $1.25 million after an additional $150,000 investment in property improvements. This would allow a cash out of almost 10% more than the purchase price.
Initial Investment
Purchase Price: $760,000
Improvements: $150,000
TOTAL COST: $910,000
Rehab Plan
Refresh units to help get rents to market rate
Add at least five units to the building in already-existing space
Modernize laundry room and improve overall management
Results
Expect refinance to pay back initial contribution
Will re-invest cash for additional property to repeat process
Nearly 100% gain in equity after cash-out refi
Single-family Home
Agnes Ave., Kansas City, MO
Agnes was APEX Capital’s proof of concept. At a $34,000 purchase price, it came already rented at $750 per month. When those tenants left nearly two years later, we decided to place it on the market after a quick $7,000 rehab. This allowed a sale for $73,000, which netted a return on investment of 325%.
Initial Investment
Purchase Price: $34,000
Downpayment: $6,700
Principal Paid Down: $1,000
Rehab Cost: $7,000
NET LIFETIME GAIN: $25,000
Rehab Plan
New carpet throughout
Interior and exterior paint
Touch-up and clean in a few areas that needed extra attention
Replace several kitchen cabinets and install new appliances
Results
Easy cashflows for nearly two years
Sale resulted in $25,000 profit on a $34,000 property
Single-Family Home, long-term cashflow
59th Street, Kansas City, MO
59th Street is a perfect example of our ideal SFR investment geared toward long-term positive cashflow. With an initial purchase price of $43,000 and just $5,000 in new materials and labor, we have now rented this property for over a year to a long-term tenant for $1,100 per month. With low operational costs, this property has a cap rate of well over 9%.
Initial Investment
Purchase Price: $43,000
Improvements: $5,000
TOTAL COST: $48,000
Rehab Plan
Bring to rent-ready standard
New carpet and paint
List and rent
Result
Positive cashflow within a month of ownership
Strong, long-term returns
High cap rates with low maintenance
Ongoing monthly income of around $700