Located in Rancho Cordova, CA the Cobblestone Apartments consist of 96 units consisting of studios, 1 & 2 bedroom apartment homes.
The building was purchased in 2014 as a value-add property. The building was sold in early 2016 and we were happy to report a 19.36% yearly return.
Being out of our typical geographical center, the lender required that we hire a third-party management company upon purchase. However, we were not satisfied with the level of care shown to the financial performance of the property. Once we took over management, the property quickly stabilized, and we exceeded our projections.
We sold the property in 2016 for $6,778,000, realizing a 19.36%/year return over two years.
$4,95,0000
2 Years
$6,77,8000
Price per Unit
19.36%
7.17%
Cap Rate on Cost
6.73
GRM on Cost
Achieving Your Vision
Planning for retirement is essential to your long-term financial well-being. At Finovate, our experienced team collaborates with you to identify your retirement goals and crafts a tailored, comprehensive strategy to help you achieve them with confidence.
How Can Our Team Help You to Reach Your Goals
Learning About You
Schedule a 30-minute call with our professional to discuss your goals and how we can help. This phone or Zoom call also outlines who we are and our process.
Organized Meeting
Meet with our team to gather the necessary data for your Financial Plan. We’ll discuss your finances, lifestyle, and goals, including investments, assets, expenses, and income.
Plan Meeting
Our advisor will present your personalized financial plan, ensuring it aligns with your evolving needs and goals, and provide clear steps to help you reach your financial objectives.
Implementation
Your advisor will send a copy of your plan with an actionable list of recommendations. We’ll implement and manage these, keeping you updated.
