• Acquisition Price:  $480,000
• Disposition Value:  $885,000
• Holding Term (months):  29

This property consists of seven Spanish style bungalow units built in the 1920’s. It was purchased in December 2001 for $480,000. At closing, there were numerous deferred maintenance items; extensive exterior and interior renovation was needed. Over $80,000 was spent, while keeping the tenants in place. All units were re-plumbed, as well as new electrical supplies and telephone lines to each unit. The property sold for $885,000 in May 2004.