Havana Rehab:
Value-Add Renovation Case Study

Overview

MAGASI led a value-add renovation project for a 6-unit property in Little Havana, focused on modernizing interiors, upgrading infrastructure, and enhancing curb appeal. The project aimed to resolve key challenges, including very below-market rents, frequent electrical issues, and deteriorating plumbing. The results? Increased property value, rental income, and long-term tenant satisfaction within a tight timeline.

Property Details

Location: Miami, FL
Year Built: 1974
Unit Mix: 6 Units - 2BR/1BA, Two-story, garden style building
Size: 4,000 RSF on a 7,500 SF lot

Project Objectives

The owners sought to execute a value-add strategy by:

Renovate unit interiors with modern finishes.

Upgrade property infrastructure, including plumbing and electrical systems.

Enhance the exterior to improve curb appeal, increase rental income, and stabilize the property within six months.

Challenges

Before

Results

213% Property Appreciation

Purchase Price: $810,000
Cap Rate (Assumed): 5.0% Market Value: $2,532,000

32% Revenue Growth

Pre-renovation rental income: $7,975/month
Post-renovation rental income: $10,550/month ($126,600 annually)

6-Month Stabilization

Renovations completed in 20 days (January–June 2022)
All units leased within 7 days to minimize tenant turnover

After

Our Process

Watch these videos to get a behind the scenes glimpse of our work

Renovations

Interior Upgrades:

Exterior Upgrades:

Investment Summary

Hard Costs
$ 0
Soft Costs
$ 0

Conclusion

Through its expertise in project management, property management, and leasing, MAGASI successfully revitalized the Havana Rehab property. The project not only delivered outstanding financial results but also enhanced the long-term value and livability of the asset, demonstrating MAGASI’s dedication to maximizing real estate investments.

Testimonials

See how our dedication to quality and professionalism has earned the trust of our clients. Our focus on
excellence and attention to detail has consistently resulted in positive outcomes. Read their stories to
learn more about how our property management services make a real difference.

MAGASI has been an absolute pleasure to work with. They have been managing our short-term rental and we are very happy. From the beginning, they were informative and responsive and that has been the case throughout the time they have been managing for us. We are very happy with our choice of using MAGASI and highly recommend them if you are looking for property management. You won't be disappointed!

Cara H.
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