The Opportunity
Our first Columbia deal — bought right at $35K a door
Patricia is a pair of fourplexes — eight units — in Columbia, SC. It was our first acquisition in the market, picked up at just $35,000 per door.
The previous landlord was collecting an average of about $435 per door — well under what the units were worth. The bones were there; the operation wasn't. It was exactly the kind of mismanaged, under-rented small multifamily we built RealTreo to fix.
What We Did
A full rehab, financed and structured to last
Acquired both fourplexes at $35K/door — $280K all-in on acquisition
Full rehab on a $175K budget — $455K all-in
Leveraged the stabilized asset at $412K
Re-leased to an average of $925+ per door, plus RUBS
Grew rental income roughly 120% over the prior owner
Qualified the rent schedule for a moderate-income tax abatement — $8,000/yr straight to NOI
The Result
The deal that proved the model
A $455K all-in basis turned into an $800K asset — and a Columbia playbook we've run again and again since.
8
Doors acquired at $35K each
120%
Rent growth ($435 → $925+/door)
$800K
Current value (all-in $455K)
$8K/yr
Tax savings to NOI
This is how we build.
Patricia was the start. The same disciplined approach — buy right, rehab fully, manage in-house — now runs across our entire portfolio. Let's talk about building alongside us.