This project’s potential is exciting! In Q4 2021, a mixed use portfolio was brought to our attention. It turns out these often overlooked portfolios can be diamonds in the rough. Typically, real estate investors fine tune their craft either focusing solely on commercial or residential, but not both. On the flip side of that, mixed use properties have the ability to generate a lot of cash flow, especially in growing areas with favorable demographic trends.
The current 1b/1b duplexes must go. There model plan transforms each apartment into a 2b/1b, bringing them into 2022.
My favorite parts about this portfolio include: all buildings are separate parcels, ample off street parking, the ‘smallest’ living space is 800 sq ft, and control of a corner of a city block! With these things, the options are endless. The ball is in our court to utilize the space most efficiently in order to maximize returns for our investors.
This portfolio in particular is located blocks from downtown SLC and a short walk from trending restaurants, breweries, and parks. Recognizing this project’s potential, we made an offer and are now under contract with our biggest investment yet.
Our current business plan is to remodel each building as leases expire, bringing this property from a state of deferred maintenance into a place where people are proud to live!
