Dr. John Taylor Apartments, Boonton NJ - Case Study
Currently Owned & Managed by Red Knight Properties
Acquired vacant historical charming apartment building within two blocks of historic transit-oriented downtown Boonton, NJ and four blocks from New York City transit from long-term private ownership and motivated seller
Leased up vacant unit(s) within two (2) weeks post-acquisition with minimum improvements (paint, oil to gas conversion, new skylight, various deferred maintenance items)
Achieved a ~12% levered-cash-on-cash within twelve (12) months of the investment period
Obtained a cash-out refinance, returning 107% of initial investor equity contributions within twelve (12) months of ownership
