Ridgewood Oaks was acquired on January 26th of 2023 at a basis of $61,538/unit.  At acquisition, average rents were $440/unit and monthly collections averaged $8,444.  After fully renovating all units, the property stabilized with an average rent of $1,166 and collections north of $29,000 per month.  Our team is currently working to close out a cash-out refinance to yield $1,300,000 in estimated owner proceeds.

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