Case Study

Increasing Property Value Through Capital Improvements

Opportunity: 184-unit distressed property, located in Tampa, FL just minutes from USF.

Acquired: Mar. 2016

Cash on
Cash

13%

Internal Return Rate:

38%

Equity
Multiple:

3.6X

Purchase
Price:

6.4k

Challenge

An out-of-state owner, poor marketing and management, and unfavorable traffic resulted in low tenant retention and underperformance.

Strategy

Successfully initiated a capital improvements plan aimed at enhancing property curb appeal, upgrading units, revitalizing exterior finishes, and rolling out several unique amenities.

Outcome

  • Rent appreciation by $200/door
  • Occupancy at 96%
  • Improved tenant retention policy decreased turnover by 60%
  • Shortened vacancy cycles

Testimonial

“After a multitude of site-visits and a strong understanding of all capital improvements needed, our team constructed a revitalization plan that ultimately turned this property into a high-performing asset.”

CRO, Christina Alletto

MICHAEL DAVALOS

SVP of Business Development

CONTACT US

(786) 295-9568
BIZDEV@TZ-M.COM
11098 Biscayne Blvd, Miami, FL 33161