UK Village 2 Flat

Fix To Rent
Client: SSK Projects LLC®
Year: 2021
Status:
Complete
,
Multi-Family
,
UK Village 2 Flat
Nestled in Ukrainian Village, this pivotal 2-flat property anchors our real estate investment portfolio, secured during a strategic acquisition in 2013. In Phase 1, we successfully navigated zoning challenges, securing lot subdivision, setback variances, and parking exceptions. By rendering the adjacent lot buildable and aligning the existing structure with zoning requirements, we gained the flexibility for comprehensive renovations, enhancing both aesthetics and rental income potential. Infused with Scandinavian design inspiration, each flat boasts an inviting open floor plan, featuring 2 bedrooms and 2 bathrooms with ensuite facilities, bathed in natural light. The renovation not only elevated the visual allure but also optimized the overall functionality of the space. Post-project completion, the impact on rental income was profound, with rents doubling to reflect the property's enhanced appeal and modernized features.
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[ INVESTMENT SUMMARY]

Purchase Price: $475,000 (includes UK Village ADU & UK Village Duplex)

Renovation Cost: $155,000

ARV: $1,100,000

Contact me for deal details

[ SCOPE ]

Size: 2,000 SQ. FT

Design: Complete 2-flat remodel for two 2 bed, 2 bath apartments

Kitchen & Bath: Renovated with 7' island and stainless steel appliances; Two full baths with new fixtures and finishes

Floor Plate & Walls: New roof, drywall, cork underlayment, sound insulation between floors/walls; French white oak hardwood

Plumbing & Electrical: New 3/4" copper pipes, high-efficiency tankless water heaters; New 200 Amp services, recessed lights

HVAC: Central air, two new 95% efficiency furnaces and condenser units

Finished Carpentry: Built-in wardrobe units for storage

Exterior: James Hardie fiber cement siding, new dual pane windows, new steel stairs, permeable pavers, bike rack

Smart Home: Locks, doorbell, parcel box, security cameras, blackout shades, heated stairs

UK Village 2 Flat
UK Village 2 Flat
UK Village 2 Flat
UK Village 2 Flat
UK Village 2 Flat
UK Village 2 Flat