106 Castle Drive, Dothan, AL
150 units
Strategic Holdings acquired this property on October 28, 2016 for $6,285,000. The property was fully stabilized at the time of acquisition. Strategic is implementing a value-add strategy to update the unit interiors and increase rents to the current market rents. After achieving the rent increases, the value of the property will increase to approximately $8,000,000.
DETAILS
| Estimated Pro-Forma Value: | $7,000,000 |
| Acquisition Price: | -$6,285,000 |
| Renovation Costs: | -$961,000 |
| Estimated Profit: | $246,000 |