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Korea Town Non-rent Control Project
Opportunity
In 2001, we purchased a 44 unit non-rent control building in a prime location of Korea Town. We saw an opportunity to raise value as rents were significantly below market.
Solution
With an experienced management team, the property was renovated and NOI was significantly increased with a combination of rental growth and reduction of operating expenses.
Results
With continued rent growth, the project achieved ROE of 700% |
