West Ridge

Project Description

Location:   5208 West Ridge Road
Purchase Date:   May 4, 2017
Purchase Price:   $330,000
Renovation Budget: $175,000
New Assessed Value:  $700,000
Property Taxes: Coming Soon!
Tenant Lease:  $595-$850

The Project

Hoffman Development acquired 15 vacated units at 5208 West Ridge in May 2017. The two buildings were distressed and needed full renovation of each unit. A property like this is something Hoffman Development is very good at. It took 5 months to completely renovate each property and fill with qualified working tenants. Hoffman Development has $530,000 in the entire property and it appraised at $700,000.