Eden storage facility
  • Asset was owned and operated by mom & pop investor.
  • There was no technology being used upon purchase and rental rates had not been activity managed in years.
  • The property lacked many amenities that most customers expect (a website that accepts online payments & rentals, a call center that handles after hours issues and a property that has a clean/welcoming look.• 5050 SP completed $225K in capex (upgraded lighting, select/door & roof replacements, access controls and technology that allowed for online move‐in, and payments.
  • In 23 months the NOI grew by 102%.
  • Purchase Price: $3.95 Million
  • Capex Budget: $225K
  • Total Capitalization: $4.15 Million
  • Strategy: Better operations and build a portfolio in the immediate to sale
  • Project Size: 60,000 NRSF / 550 Units
  • Capital Partners: Friends/Family/Syndication
  • Investor Net IRR: 65%
  • Investor Net Equity Multiple: 2.6x
  • Hold Period: 23 Months
  • Sold to: Out of State buyers that also purchased the Martinsville stores

More Case Studies

Scroll to Top