Purchase was made in August 2000 for $700,000. GRM was 0.0, since the property was vacant, which allowed all units to be rented at market price once completely remodeled.

Property was vacant at purchase. Buyers invested $75,000 into renovations of all units adding new dishwashers, flooring and air conditioners while upgrading plumbing and electrical throughout.

As of 2011, the investors make $84,000 in annual net operating income (NOI) and valuation of the building has increased by 55 percent to approximately $1.2 million.