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We took over management of this property on October 1st, 2019. At the time of takeover, the building consisted of 10 units and had a 50% occupancy rate. Over the next 2 years and 8 months, we were able to double the occupancy rate, add an additional full unit, and increase the average rent by 44% Due to these upgrades, the property was then sold for 197% of the original purchase price.
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