Renovation Project of 12-Unit Rental Complex in Hawkesbury:
Renovating a rental complex can be a daunting task, especially when the building is in an unlivable condition. But with a clear vision and the right team, a successful renovation can turn an eyesore into a gem.
That is precisely what we achieved with our recent renovation project in Hawkesbury, where we transformed a 12 unit rental complex from an unlivable condition into a desirable and comfortable living space for a dozen tenants.
The renovation project included a complete overhaul of the building, from the kitchens and bathrooms to the flooring, trim, paint, and appliances throughout. We also installed all new windows to improve energy efficiency and enhance the building's overall aesthetic appeal. Our team worked tirelessly to ensure that every detail was perfect, resulting in a high-quality and attractive living space for our tenants.
When we purchased the building, it was in a state of disrepair and almost entirely unlivable. We knew that the renovation project would require a significant investment, but we also recognized the potential value that could be added to the property with a successful renovation. We worked closely with our team of contractors and designers to create a plan that would transform the building into a modern and comfortable living space that would appeal to tenants.
The renovation project was not without its challenges, but we remained committed to our vision and persevered. We knew that the end result would be worth the effort, and we were not disappointed. The completed renovation project transformed the building from a neglected eyesore into a beautiful and functional living space, adding significant value to the property in the process.
Today, the 12 unit rental complex comfortably houses a dozen tenants who enjoy the modern amenities and comfortable living spaces. The renovation project has been a significant success, and we are proud of the transformation that we achieved. We believe that our success demonstrates the value of investing in quality renovations, even when the initial condition of the building is less than ideal.
The numbers!
Purchace price: $380,000
Renovation Cost: $260,000
ARV: $1,700,000
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