Representative Transactions
SHOPPING MALL:
CENTENNIAL PLAZA
HAYS, KANSAS
Value Add Equity
- 16 units
- Built 1966
- Purchased May 2007
- Acquisition price $2,450,000
- Equity invested $662,357
- IRR: 21.39%
Details
- 52,000 Sq. Ft. indoor mall and strip center stores
- Condition at purchase: run down, tired and outdated
- $250,000 spent over 8 years on upgrades and modernization
- Rents raised from avg. $4.00 Sq. Ft. to $8.50 Sq. Ft.
- $300,000 per annum rent roll and rising
- Great cash flow
- Sold November 2017 $3,400,000
CONDOMINIUM:
MIZNER COURT
BOCA RATON, FLORIDA
Value Add Equity
- 1 unit
- Built 1985
- Purchased July 2015
- Acquisition price $452,660
- Equity invested $452,660
- IRR: 10.27%
Details
- Purchased from a bank as an REO
- 1760 Sq. Ft. 2 bedroom, two bath condominium on the highly exclusive Boca Beach Club Estate
- Purchased in good condition, having been partially renovated to a very high standard
- Very little expenditure ($30,000) to finish the rehab
- Sold in 9 months for $575,000 in April 2016
RESIDENTIAL:
NW27th AVENUE
BOCA RATON, FLORIDA
Value Add Equity
- Single family detached home
- Built 1985
- Purchased Feb 2013
- Acquisition price $205,000
- Equity invested $205,000
- IRR: 12.5%
Details
- 2278 Sq. Ft. 3 bedroom, 2 bath detached single family home
- Purchased in good structural condition with only aesthetics needing attending to
- Acquired below market from a bank as an REO
- Took three months of easy rehab, costing $33,000
- Sold in only 8 months for $322,000 in October 2013
Historical Returns
Past & Present Portfolio
| PROPERTY NAME | PROPERTY TYPE | CITY | STATE | YEAR ACQUIRED | VALUE | IRR |
|---|---|---|---|---|---|---|
| Quail Run Drive | Single Family Detached Home | Agoura Hills | CA | January 2001 | $1,100,000 | 23.85% |
| Adohr Lane | Light Industrial Park | Camarillo | CA | November 2003 | $3,200,000 | 22.89% |
| Cabot Place | Light Industrial Park | Ontario | CA | January 2004 | $1,600,000 | 2.97% |
| Gardena Business Park | Light Industrial Park | Gardena | CA | February 2004 | $3,775,000 | 32.82% |
| Centennial Plaza | Shopping Mall | Hays | KS | May 2007 | $3,400,000 | >100% |
| North Valley | Strip Shopping Center | Topeka | KS | July 2007 | $1,950,000 | >100% |
| NW 25th Terrace | Single Family Detached Home | Boca Raton | FL | January 2012 | $330,000 | 12.77% |
| 27th Avenue | Single Family Detached Home | Boca Raton | FL | April 2012 | $322,000 | 12.50% |
| Marbella Condominium | Single Condominium Unit | Boca Raton | FL | March 2012 | $950,000 | 12.45% |
| Holt Avenue | Strip Shopping Center | Pomona | CA | November 2014 | $1,310,000 | 68.20% |
| NW 13th Street | Single Family Detached Home | Boca Raton | FL | January 2015 | $89,000 | 56.06% |
| Mizner Court | Single Condominium Unit | Boca Raton | FL | July 2015 | $575,000 | 10.27% |
| Sunny Isle Circle | Single Family Villa | Boca Raton | FL | March 2016 | $215,000 | 21.00% |
| Thurlow Drive | Single Family House | Boynton Beach | FL | March 2016 | $241,000 | 19.41% |
| Nicia Way | Single Family Home | Greenacres | FL | May 2016 | $127,000 | >100% |
| Alta Meadows Lane | Single Family Home | Delray Beach | FL | May 2016 | $204,000 | 57.00% |
| Park Street | Land | Juno Beach | FL | July 2016 | $30,000 | 0% |
| Riverside Drive | Single Family Home | Lake Worth | FL | July 2016 | $92,000 | >100% |
| Margate Blvd | Single Family Home | Ft Lauderdale | FL | August 2016 | $150,000 | >100% |
| Blue Heron Blvd | Land | Riviera Beach | FL | October 2016 | $700,000 | 13.87% |
| Marbella Condominium* | Single Condominium Unit | Boca Raton | FL | April 2017 | $1,155,000 | 25.50% |
| Admirals Walk | Single Condominium Unit | Boca Raton | FL | January 2018 | $1,075,000 | 0% |
| Regency Highland | Single Condominium Unit | Highland Beach | FL | March 2018 | $825,000 | 2.37% |
| The Hamptons | Single Condominium Unit/w Cabana | Palm Beach | FL | June 2018 | $6,175,000 |
10.90%
|
| Greenacres | Single Condominium Unit | Greenacres | FL | December 2019 | $127,300 | 17.53% |
| Capri H | Single Condominium Unit | Delray Beach | FL | January 2020 | $130,000 | 8.20% |
| Burgundy M | Single Condominium Unit | Delray Beach | FL | April 2020 | $135,000 | 14.32% |
| Delray Beach Project | Land For Development | Delray Beach | Fl | March 2021 | $10,800,000 | Building Three Townhomes Completion March 2025 |
| Total | $43,572,00 |
IRR Percentages Are Based Cash On Cash - *2nd Unit Bought In Condominium Building - Last Updated January 2024