Desert Jewel


Desert Jewel is on the same city block with three other properties that were acquired and managed by Red Rock Equities.  Having these four properties in close vicinity to one another helped us reduce management costs and services, and essentially made us treat these properties as a combined 85 (14+38+22+11) unit complex. 

Desert Jewel was fully operating and stabilized 9.5 months following its acquisition with impressive rental rate increases of up to 20% over the previous owner average rent. The specific submarket rental rate has increased by only 8% over the same period.  

We continued operating the building and increasing rent for another year, achieving rental rate increases of up to 36% over the previous owner average.

Cash-on-Cash return for the last 12 trailing months of our ownership was 22.90%.

Desert Jewel was sold in January 2016 for $795,000, reflecting a Levered IRR of 62.77% to our investors, and an Equity Multiple of 2.80x to their initial investment over two years.

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Desert Jewel December 2013

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Desert Jewel July 2015

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Wyndham & Montego

 
 

It all started when...

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Supporting other heavy lifting value-added projects in the same owner's portfolio 

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It all started when...

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It all started when...

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Single Family Residence - Portfolios

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