Although 2022 was a rollercoaster of a year as far as interest rates and the market, your 8th E investment is stabilized with all major CapEx projects completed with the exception of the back yard improvement, planned for this summer. We waited to address the HVAC systems as needed and now all 4 units have new AC and furnaces. We took advantage of 0% interest financing on those units and will continue to pay them off over the coming months. Overall, 1 resident renewed and we were fortunate to fill the remaining spaces very quickly. We had a total of 14 days of vacancy (<4%) which is well ahead of industry standard considering two units had turn over in January.
The cash on cash return for this property in 2022 was 7%. Rent was raised in each unit this year as well, totaling a 5.3% increase. We will continue to optimize our operations to provide the best returns for this investment.
Lastly, you can expect your K1s in the coming days. Once received please attach that with your tax return.
