Camelot_Dothan

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