This 3-unit property in Los Angeles was purchased in June 2011 via a short sale from Bank of America, at which time 2 of the units were uninhabitable. The property was renovated, stabilized and refinanced, returning 92% of investor equity in September 2012. The property was fully occupied and continued to provide its investors with cash flow after debt service. The property was sold in August 2016 for $480,000 and proceeds were exchanged into a 26-unit two-story garden style pre-rehab value-add apartment complex.
