Location: Oklahoma City, OK Type: Garden Style Date Purchased: December 2018 For: $10,350,000 Date Sold: October 2020
for $16,500,000
Property Metrics
Equity Multiple 1.8x
IRR 39%
Cash-on-Cash 22%
Six100 Meridian remained largely unchanged since its original construction. Poorly managed, the property had high vacancy and poor curb-appeal. Being in a prime area for growth. 180 acquired this property at a discount, directly from a 40 year owner, with plans to make it desirable for tenants and investors alike.
With professional management, extensive maintenance reparations, exterior and interior upgrades. Six100 quickly saw rental increases up to 10%. Within 22 months of acquisition the property was sold at a strong profit.
