GLADSTONE

2018

Our first apartment building purchase was two 1920's brick buildings we call Gladstone. The units were 50% occupied and were renting for up to $600/mth. We replaced  roofs, performed grading, and installed new electrical boxes. We also remodeled the interior of all the units, retaining the natural charm of the historic building, while upgrading newer features like appliances and digitial door locks. Our tenants now pay $700+$45 per month rent. In 2020 we refinanced pulling out 90% of our initial down payment while keeping strong cashflow moving forward. During our 2 year project we also had the great opportunity to build and work with an amazing team, meet wonderful tenants, and get to know neighbors committed to improving the community.