Portfolio Snapshot: Card Sound – 22% Cash on Cash Return
Business Plan:
Card Sound is a 1972 built multifamily property well-located in the strong market of Homestead, FL. It was purchased it from a long-time owner, who had low rents due to dated interiors and a low-quality tenant base.
Atlantic removed problem tenants and completed strategic renovations including replacing the fire alarm system, concrete restoration and light interior improvements.
Results:
Atlantic Companies purchased the property in November 2021, immediately starting renovations and stabilized the property in under 12 months.
By increasing revenues and reducing delinquency, Atlantic was able to increase net operating income 30% and are achieving a cash-on-cash return of 20%+.
| Project/Asset Name | Card Sound |
| Market | Homestead, FL |
| Year Built | 1974 |
| # of Units | 105 |
| Acquisition Price | $10,560,000 |
| Results | 22% Cash on Cash Return |
