Renovation Update: 407 E 147th St (Unit 3)

When we acquired this duplex in early 2023, the third-floor attic was an underutilized finished space serving as a bonus room for the second-floor unit. By adding a kitchen and dividing the area, we transformed it into a standalone one-bedroom unit.

This strategic conversion boosted the rent roll by 30%, elevating the cash-on-cash return rate from approximately 10% to over 15%. This case perfectly exemplifies the kind of value-added opportunity we actively seek when investing in a property.