In 2018, we bought an apartment building in Tavares, FL with 24 units of various sizes (efficiencies, 1, 2 bedrooms).  The property started as a roadside motel in the 1960's, with new buildings added in the 1970's, 1980's, and 1990's.  When we purchased it, the property was being utilized as a weekly rental, with a rent roll of under $7,000 per month.

We purchased the property in 2018 and made several upgrades, including: 

• Replaced property management

• New roofs on multiple buildings

• Complete interior renovation of most apartments

• Upgrades to the kitchens and bathrooms 

• Upgraded the plumbing and electrical systems

• Painted all 5 buildings

• Replaced gutters and majority of windows

• Built new laundry room and community area

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As a result of these upgrades, we have been able to increase the value of the property to $3,200,000 through increased rents.