New Case Study | Cortez Plaza | 128% ROI

Creative Realty Partners acquired Cortez Plaza, an 84 unit apartment complex in Bradenton, FL, in June of 2017.

A $300,000 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, tapering expenses, and increasing the existing utility bill-back program, which ultimately increased the Net Operating Income by 48%. The property sold in February of 2022

Including the monthly Cash Flow After Debt Service, the total cash-on-cash return on the project was in excess of 128%.