Renovating interior spaces with modern finishes, appliances, and fixtures
The owners of this 1971, 7-unit multifamily property were looking to execute a value-add strategy, modernizing all unit interiors and exterior renovations from new roofing, windows & doors, painting, and landscaping. MAGASI provided all Project Management, Property Management, and Leasing services. Rental income nearly doubled from $6,465 per month to $11,750. The project was completed in 6 months and the property appreciated roughly 83% based on the new income generated.
The owners of this 1974, 6-unit multifamily property were looking to execute a value-add strategy, modernizing all unit interiors and enhancing the curb appeal of the property. The units were generating below market rents for Little Havana with substantial upside. MAGASI was able to increase rental income by 32%, raise the property value by 134%, and stabilize the property in under 6 months.
When it comes to managing your value-add renovation projects, MAGASI tracks your progress in real time through budgeting and scheduling software.
Depending on the size of your project, MAGASI meets weekly or bi-weekly with clients to provide regular project updates and reach timely decisions.