@Account Closed It's a value add play. We're remodeling and updating units, adding a common brand to all buildings and pushing rents to attract a better class of tenant. Taking this from a C- to C+ over the next 5 years.
Update: This asset continues to perform strongly, as planned. We have turned units that had bad tenants and pushed rents while increasing tenant class. We've started exterior improvements to improve the property image and attract higher quality tenants. Meanwhile, Tampa continues to grow and this area continues to gentrify. Separate post coming soon about how we recently closed a 56 unit in another area of Tampa Bay. If you're interested in what my team is doing next, please reach out! Also check me on Tech Guys Who Invest podcast.