Property Type: 27 Unit Apartment Building

Location: 351 Tamarack Avenue, Carlsbad, CA

Original Description: With cosmetic improvements and effective management, we immediately got rid of undesirable tenants.

Purchase Price: 3,510,000

Improvements: 135,000

Investment: 3,645,000

Investor Contribution: 1,400,000

Sale Price If Sold (Or Projected Sale Price): 5,630,000

Period: 4 years

Annual Return to Investors: 29%

Sold/In Holding Period: Sold

Plan/Notes Related To The “Investment”: Improve the building with new management for a better class of tenants and sell.