CASE STUDY DETAILS
7008 Sandell Ave
Edina, MN 55435
- Rent Roll: $8,250.00
- Property Value: $1,078,000.00
- Occupancy: 98%
- Deferred Maintenance: Full Renovation
- Resident Satisfaction: 85%
- Rent Roll: $16,500.00
- Property Value (Estimated): $1,650,000.00
- Occupancy: 100% with waiting list
- Deferred Maintenance: Fully Renovated – 0
- Resident Satisfaction: 98%
Galleria Flats
We ended up completely emptying the building and doing a full common area, parking lot, unit renovation that includes full porcelain bathrooms, new quartz countertops and stainless steel appliances. Within 5 months we completed the renovation and fully leased the property at double the old rental rate. This effectively almost doubled the value of the property in well under one year. The owners went above and beyond on the bathrooms putting in luxury finishes you would find in million dollar homes. We were able to complete this in 5 months and lease up the building. Currently the building is full with a waiting list and still undergoing improvements that include a new laundry area, HVAC and possible solar in the spring of 2019.
After Gallery
3D Walkthrough
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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