We purchased a 30 condos in Phoenix, Arizona in October of 2020 for $2,600,000.
We then converted the units to city/state funded housing. Which increased rents from an average rent of $800/mo to $1291/mo.
Average security deposit from $850 to $3,000.
Nearly every lease was month to month, now all leases are annual commitment.
- Multi Family
- Phoenix, Arizona