Upon acquisition Brew City Capital Group began renovations on each unit for an average cost of $15,000 per unit. Unit mix consisted of eight, 1,100 SF 1-bed/1-bath units. During the renovation process one of the extra rooms was converted to a second bedroom, creating eight, 2-bed/1-bath units. Average rent was increased from $715 - $1200 within two years. Property was acquired in June 2020 for $615,000 and was cash-out-refinanced in April 2022 at an appraised value of $1,150,000. Equity partners in this deal received a buy-out from Brew City Capital Group at the time of refinance. Equity partners achieved a 2x equity multiple on their investment in less than 2-years. This property is still owned and operated by Brew City Capital Group and rents have since increased to an average of $1400 per unit.