6401 Beard Ave
Brooklyn Center, MN 55430
To come up with a quality renovation without exceeding a budget of around 10K per unit. Most renovations of this type currently exceeding 15-20K, so this was a very tight, well-planned budget that resulted in very nice finishes at the lower cost. Some of the problems included:
Rent was way below market and the city of Brooklyn Center required more up-front work and planning than other markets we have been in. In the long run, they were great partners, but it added to the initial planning. Our goal was to complete a timely large-scale renovation under budget, which we did achieve.
The Avenue apartments quickly became a sought-after apartment community to date with some of the highest advertising traffic results of any property we manage. The rent roll literally increased by $13,880.00 per month or over $166,000.00 per year in additional rental income since purchase! We believe this was from the mixture of design, renovation, marketing and coordinately management/team effort in keeping the quality of living standards high, yet affordable at the property.
Nexus has a special way of doing things; I call it the "right way". Their knowledge of the industry combined with professionalism and business aptitude makes Nexus a rare gem. During the last two years I have watched Nexus overcome and surpass any challenges and goals set for themselves. The team of property management professionals consistently delivers an impressionable performance, based on quality of the projects, occ…
I have had the pleasure of working with Nexus on several successful apartment renovation projects. Under Mike's leadership, each project was completed within budget and the end result was a clean, professionally managed community. Mike is a knowledgeable entrepreneur and a great asset to the industry and I would recommend Nexus' services to any owner/company looking to maximize their asset.
Nexus has been fantastic to work with. They have a great understanding of what it takes to accomplish real financial success and investor return at your properties. Nexus is truly focused on exceeding net operating income targets and investment return. At the same time, it is a creative marketer. Nexus is able to think outside of the box to achieve property lease up and above average resident retention. They are totally o…
I truly appreciate the relationship I’ve been able to build with Nexus the past couple of years and I’m impressed with Mike's drive to bring new technologies and efficiencies to Nexus. He's truly an asset to his company and to the multi-family industry.
Nexus has stepped up to the plate with an affordable management service that has met every need. The management has handled customer relations with an effective personal touch. The management was able to staff up to take over management on the first day. They handled an overnight emergency two weeks into their service by assuming on-site presence immediately and informing owners within hours.
Nexus Real Estate Services and Team have worked with Carpathian Capital since 2012 completing two successful value add projects. One project recently achieved a 171% ROI and 51% rent growth, we highly recommend Nexus and team based on their performance.
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