New Single Family Asset Added to Portfolio
A List Partners Management (ALPM) has acquired a new asset for the portfolio. It is a 3,868 SF 3-story single family rehab project located at 359 Everest St San Antonio, TX 78209 in the Alamo Heights are of San Antonio.
This was a lender owned REO property that was foreclosed on by the lender on March 2 of this year. ALPM acquired the property March 30. This is a rehab project that has not been completed.
ALPM intends to complete the rehab and place the home on the market For Sale. The estimated time for this asset to exit the fund is 4 to 6 months. By the numbers:
$100,000 Rehab Budget (estimated high)
$650,000 ARV (Market Value after completion of rehab)
$48,750 Estimated Closing Cost
$66,250 Estimated Net to the fund
Annualized ROI in 6 months of 26.71% / Annualized ROI in 4 months of 42.63%