Purchase was made in June 2015 for $965,000. GRM was 10.47, with gross rental income totaling approximately $93,000 annually. Immediate upside potential as rents had not been increased in over 5 years.

Since purchase, buyers have added a new electric gate, gutted and rehabbed two of the units, remodeled two interior stairwells, and remodeled the laundry room.

As of 2016, the investors make $60,000 in annual net operating income (NOI) and valuation is projected to increase since there is no rent control and many of the units are underpriced.