Rosa Vista Community 1.jpg

Rosa vita apartments

Levered IRR - 52.1% | Equity Multiple - 2.25x | Asset appreciation 44%

Building Description

Unit Mix:  1 BR, 1 BA (5) and 2 BR, 1 BA (6)

Number of Units:  11
Building Size: 9, 650 SqFt

Lot Size: 0.87
Acre Year Built: 1961


  • Property was on the same city block as Franciscan Apartments
  • Previous owner had done a poor job repositioning the property, pouring $100,000 of Capital Expenses into it, completing all the ‘heavy lifting’ items but not optimizing it well enough for disposition. 


  • Having two properties adjacent to one another allowed us to reduce management costs and services, essentially enabling us to treat these properties as a combined 27-unit complex (16 in one, 11 in the other).
  • Finishing the repositioning of the property and optimizing its upside potential.




The complex was fully operating and stabilized within 16 months at a low renovation cost of $40,000. The property sold in just over two years delivering a Levered IRR of over 52% to our investors.


Deal Metrics


At Purchase

Purchased June 2013
Purchase Price $485,000

Price per Door $44,090
Price per SqFt $50.26

Avg. Rent at Purchase $463/Mo.
Occupancy Rate 90.1%

Renovations $40,000
Total Investment $185,500


At Sale

Sold in August 2015
Sale Price - $700,000

Rent Increased to $590/Mo. (highest)
Occupancy Increased to 94.7%

Unlevered IRR - 52.1%
Trailing 12 prior to sale, Cash-on-Cash - 16.03%