We purchased this property with the intent to remodel and sell within five years. This multifamily apartment building consisted of 4 individual units hosting 2 beds and 1 common bathroom. During a walkthrough we noticed the property was outdated and poorly maintained. Our budget was low for this remodel due to the purchase price of the property but we were committed to making it work.
We decided to open the wall between the kitchen and living room to create an open concept space. We saved the original hardwood floors, rearranged the bathroom layout and updated the lighting fixtures. As an increased convenience, we added in-unit laundry so that tenants no longer needed to travel to the laundromat.
The finished product: an updated modern apartment building with four 2 bedroom/ 1 bathroom units hosting large bedrooms and an open concept space with plenty of natural light
Purchase & Budget