4018 – 4024 Gelber

Purchase Date: 3/6/2012

Total Units: 55

Purchase Price: $3,918,000/ $71,236per unit

Equity Raised: $1,325,000

Financing: 4.10-4.25% rate for 7 years, Opus Bank

Renovation Budget: $550,000/$10,000 per unit

4018-after

Capital Improvements: Exterior work included roof replacement, landscape replacement, fascia repair, renovated iron work, security cameras, deck replacement, substantial window repairs and addition of laundry rooms. Interior work comprised of complete or partial renovation of all units; including appliances, two-tone paint, ceiling fans, flooring, countertops, plumbing repairs, blinds and lighting.

Energy Conservation Improvements include: outdoor and hallway LED light installation, low flow toilets and shower heads, upgraded water system for landscaping, upgraded laundry appliances.

  1 bedroom, 1 bathroom 2 bedroom, 2 bathroom
Before CPF purchase $840 1,050
After CPF purchase $950 $1,250
Occupancy:100%

Crawford Park Financial Inc. - NMLS ID 354251, Mark Crawford license # is: DRE#00676535

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