Project Description

Champion Glendale

Champion Glendale

champion real estate

Two-property traditional multifamily portfolio in Glendale, CA.

VALUE ADD | MULTIFAMILY

Champion Glendale

Project Profile

  • Investment Type: Multifamily Value Add
  • Units: 104 one, two- and three-bedroom units
  • Purchase Price: $33,600,000
  • Project Cost: $38,525,000
  • Est. Equity Investment: $12,750,000

Status

Stabilized

Business Plan

Buy existing Class C residences; remodel exteriors and interiors into Class B+, rent at discount from Class A.

Investment Highlights

  • Location: Core locations in Glendale, CA
  • Purchase: Off-market at discount to market value
  • Budget: Value-add improvements completed early and under budget.
  • Performance: Refinance occurred four months ahead of forecast schedule at acquisition.
champion real eastate