New Case Study | Heritage at Temple Terrace | 200% ROI

Creative Realty Partners acquired Heritage at Temple Terrace, a 126 unit apartment complex in Temple Terrace, FL, in March of 2019.

A $982,800 rehab budget (included in the initial acquisition financing) was allocated for interior, exterior, and amenity improvements.

The capital improvements were completed within the first 24 months of ownership and facilitated raising rents to market and increasing the existing utility bill-back program, which led to a 26% increase to the total income and a $9.05mm increase in value.

At disposition, the property was fully marketed and generated a sales profit of $4,615,667representing a 196% Sale ROI. The property sold in January of 2022.

Including the monthly Cash Flow After Debt Service, the total cash-on-cash return on the project was in excess of 200%.