2013
We began our inaugural year with the purchase of the Estates of Medlock, a beautifully renovated 14-unit apartment building in the then yet-to-be-hip Uptown Phoenix.
We like to think we discovered it.
In all seriousness, we started out in a good location, and were blessed that it grew faster, and better than expected.
It affirmed our philosophy to invest only in good locations which benefit from a virtuous cycle of investments and improvements.
We exited our investment 2 years ahead of schedule, and more than doubled the investment of our limited partners with a total return of 123%.
01. Estates at Medlock - Sold
310 W Medlock Dr, Phoenix, AZ
14 units, fully renovated.
Our first purchase reflects our prudent nature as we bought this as a buy-and-hold investment to gain practical experience in multifamily investment, improvement, and management.
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Total return: 123%