Total Units: 12
Targeted IRR: 15.9%
Purchased in 2018, our first property in Akron, Ohio, started as an 11-unit property before adding the 12th unit. Located in a growth area with medical centers and restaurants nearby, this was a value-add scenario that we took advantage of when we found the asset off-market. With rents below market and units in dire need of a refresh, this asset made for an excellent value-add opportunity. We boosted occupancy by 10% and rents by $150 per unit within the first 12 months of ownership.