Case Studies
Anabasis Real Estate Investment Trust’s principals, operating through Anabasis Real Estate Investment Trust, LLC, have compiled an impressive record of successful opportunistic and value-add real estate investments across all four of the Fund’s intended real estate sectors, as demonstrated in the following case studies . . .
Type:
Single-Family Residential
Address:
9631 Sappington Avenue,
Jacksonville, FL
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9631 Sappington Avenue was a neglected 1,150 square foot single family home that was acquired at a fantastic price point and completely renovated for an incredible profit. Located in a quiet neighborhood of on the north side of Jacksonville just a few blocks from the Trout River.
Deal Highlights:
- Off-market acquisition provided a low entry price point.
- Hands-on management kept costs low: complete rewiring, new water and heat pumps, considerable tree work, and complete interior and exterior remodel completed for only $35,000.
- Highly regarded asset class (renovated single family homes under $250K) led to ease of resale: put under contract in just 48 hours at $6,000+ over ask while entertaining 7+ offers.
- Led to a return of over 27% in just over 3 months post acquisition.
Type:
Multi-Family Residential
Address:
606 Shady Place,
Daytona Beach, FL
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606 Shady Place was an underperforming 1,274 square foot 2-unit apartment building that was acquired at a fantastic price point and brought up to market standard for an even better return. Located directly across from the city golf course in a quiet neighborhood of Daytona Beach.
Deal Highlights:
- Off-market acquisition provided a low entry price point
- Low Occupancy: The property had one vacant unit, and the other unit was occupied at $650/month
- Hands-on management minimized projected rehab costs from $20,000 to $9,333.86.
- Newly installed interior and exterior renovations gave this property great appeal to renters, receiving over 100 inquiries within the first week of becoming available to potential tenants.
- Led to over a 184% increase in gross cash flow in just 3 months post acquisition.
- Highly regarded asset class (multifamily) led to ease of resale: Contracted after just 10 days on mkt.
- Led to a return of over 22% in just a little over 4 months post acquisition.
Type:
Commercial
Address:
Edgewater Self Storage,
Edgewater, FL
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Edgewater Self Storage was an underperforming 14,000 square foot self-storage facility that had ample opportunity to bring it back to life with the right upgrades and management. Located just off the main highway in Edgewater, a rapidly growing city outside of New Smyrna Beach.
Deal Highlights:
- Low Occupancy and Low Rental Rates / Lack of Air Conditioning Systems
- Newly installed commercial A/C systems allowed management to increase occupancy and rental rates to see significant growth in value over a short period
- Led to over a 400% increase in gross cashflow in just 5 months post acquisition
- Hands-on management minimized initial projected rehab costs from over $200,000 to finalized cost of $135,000.
- Mismanaged business practices allowed for the development of new business systems including a newly customized website, new on-site property managers, and redeveloped high-tech gate and storage unit access systems.
- Led to a return on value of 31.2% in just 6 months post acquisition.
Type:
Land Development
Address:
1907 Trail Ridge Rd,
Folkston Range LLC
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Folkston Range was originally two adjacent land parcels that were developed into a single-family home parcel and a private shooting range parcel.
Deal Highlights:
- The acquisition of two adjacent parcels that were developed separately. The first parcel has been sold, and the second parcel is awaiting FAA and FCC approval for a possible development of a 1,000 foot high telecommunications tower.
- When clearing and upgrading the property Anabasis purchased its own development equipment which held considerable value, assisting in keeping development expenses low.
- Vacant building on the first parcel was fully furnished and turned into a cash flowing AIRBNB/VRBO. The shooting range was utilized by private clients for additional cash flow — Resulted in the property’s cash flow consistently paying for itself.
- Anabasis has recently received sold the 75 acre parcel for $400,000, and has received an offer for the remainder of the property at $1,000,000. Putting the projected gross return on value at 93.1% in two years post acquisition. However, there is additional value to be had in the development of the comms tower!
Type:
Land Development
Address:
1907 Trail Ridge Rd,
Folkston Range LLC
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6858 Champlain Rd is a newly acquired 3-bedroom, 2-bathroom, 1,088 square foot single family rental home that was acquired at a fantastic price point for only $100,000! The 1960 built home had great bones but needed a full rehab including all systems and roof replacement. Located in a fantastic rental neighborhood in Northwest Jacksonville, just a few blocks from the Trout River, this property is set to bring an exceptional internal rate of return!
Deal Highlights:
- Low Price Point & Capability to Generate Significant Revenue
- This deal was acquired through proprietary off-market research capabilities giving Anabasis a fantastic entry point.
- After extensive research, the investment group was able to determine After Repair Value of $185,000 based on comparable sold houses in the neighborhood.
- Concrete Block Construction & Hands on Rehab Management
- The property being concrete block construction helps to minimize investor risk especially when dealing with the elements of Florida weather.
- Anabasis was able to secure a full remediation of the property including new roof, A/C, electrical, and plumbing systems as well as updated flooring, fixtures, appliances, paint, and landscaping for well below market value by shopping through several contractors in the area. Anabasis projects rehab costs to be about $45,000.
- Highly Regarded Asset Class
- Single family rentals are one of the most popular asset classes in real estate in today’s market. Affordable housing is becoming harder and harder for the average American to find. Especially rental property with a full 3 bedrooms and 2 bathrooms. Anabasis projects the property to rent for up to $1,400/month.
- Anabasis projects total expenses to be around $45,000. Upon completion of the resale of this property, we project a final ROI of about 18% based on projected ARV, not including any annual distributions of roughly 8.5% cash on cash distributions every year for a projected 17.3% annualized IRR on a 2-year hold.
All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
Type:
Land Development
Address:
1907 Trail Ridge Rd,
Folkston Range LLC
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102 Bluejack Lane is a newly constructed 5-bedroom, 3-bathroom, 2,698 square foot single family that was acquired at a fantastic price point for only $385,000! The 2017 built home had great bones but needed a full mold remediation as well as the A/C system reconfigured as the original builder completed the project incorrectly. Located in the high-value neighborhood of Bannon Lakes in St. Augustine, just a few blocks from World Golf Village this property is set to perform resale for an exorbitant profit!
Deal Highlights:
- Low Price Point & Capability to Generate Significant Revenue
- This deal was acquired through proprietary off-market research capabilities giving Anabasis a fantastic entry point.
- After extensive research, the investment group was able to determine After Repair Value of $615,000 based on comparable sold houses in the neighborhood.
- New Construction & Hands on Rehab Management
- The property being new construction helps to minimize investor risk especially when dealing with the elements of Florida weather.
- Anabasis was able to secure a full mold remediation for the property as well as new A/C systems for well below market value by shopping through several well know contractors in the area. Original cost estimations were anywhere from $50,000-$75,000 to complete the project. However, new quotes brought that number all the way down to $25,000 needed to complete restoration of the house.
- Highly Regarded Asset Class
- Newly constructed single-family homes in high-class HOA neighborhoods are one of the most popular styles of homes in the St. Johns County real estate market. Areas such as World Golf Village are highly sought after, and buyers are willing to pay top market price within just days of being on the market (average of 9 days to sell on the market for homes in this area).
- Anabasis projects total expenses to be around $25,000. Upon completion of the resale of this property, we project a final ROI of anywhere from 33-42% based on projected ARV.
All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
Type:
Land Development
Address:
1907 Trail Ridge Rd,
Folkston Range LLC
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4300 Lexington Avenue was a neglected 2-bedroom, 1-bathroom, 1,344 square foot single family that was acquired at a fantastic price point for only $195,000! The 1920’s built had great concrete block bones but needed a full rehab. Everything in the property was original from when it was built! Located in the high-value neighborhood of Avondale in Jacksonville, just a few blocks from the Avondale historic district this property is set to perform well.
Deal Highlights:
- Low Price Point & Capability to Generate Significant Revenue
- This deal was purchased from an on-market seller, however Anabasis used proprietary research and relentless negotiation tactics to acquire this property at a significant discount.
- After extensive research, the investment group was able to determine After Repair Value of $350,000-375,000 based on comparable sold houses in the neighborhood.
- Block Construction & Hands on Rehab Management
- The property being concrete block construction helps to minimize investor risk especially when dealing with the elements of Florida weather, as well as a much older home which can be susceptible to frame damage over the years
- Anabasis was able to secure a full re-plumb for the property as well as new roof, electrical, and A/C systems for below market value by shopping through several well know contractors in the area. Internal connections also helped to bring Architectural/Engineering Designs to the city quickly and at a competitive cost basis when presented with the challenge to provide these to keep the project moving forward.
- Highly Regarded Asset Class
- Fully restored historic single-family homes are one of the most popular styles of homes in the Jacksonville real estate market. Areas such as historic Springfield and Avondale are highly sought after and buyers are willing to pay top market price if the project is completed correctly.
- Anabasis projects total expenses to be around $90,000. Upon completion of the resale of this property, we project a final ROI of anywhere from 14-22% based on projected ARV.
All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
Type:
Land Development
Address:
1907 Trail Ridge Rd,
Folkston Range LLC
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Details
1950 Paine Ave, Unit B7 was a neglected 3-bedroom, 2-bathroom, 1,039 square foot single family condominium that was acquired at a fantastic price point for only $87,500! The condo had great bones but needed an A/C system replacement as well as repairing fixtures to get it rent ready. Located in the family friendly neighborhood of Arlington in Jacksonville, just a few blocks from Jacksonville University.
Deal Highlights:
- Low Price Point & Capability to Generate Significant Revenue
- This deal was a direct to seller off-market acquisition which gave the investment group an incredible entry price point.
- After extensive research, the investment group was able to determine rent capabilities of $1300-1400/month based on comparable rented properties in the area.
- Brick Construction & Hands on Rehab Management
- Property was of brick construction which helps to minimize investor risk especially when dealing with the elements of Florida weather.
- Hands on management helped to keep costs low. The entire condo A/C system was replaced as well as fixtures brought up to date to make the property rent ready for only $6,200.
- Highly Regarded Asset Class
- Single family rentals are one of the most popular asset classes in real estate in today’s market. Affordable housing is becoming harder and harder for the average American to find. Especially rental property with a full 3 bedrooms and 2 bathrooms. This led to the ease of renting the property in just 5 days at full ask of $1400/month.
- Led to a projected annual gross return of 17.6% and a projected annual net return of 9.59% cash on cash including all property management and expenses. This is not including any forced appreciation of the asset which would incur upon resale of the property generating even more return on investors’ money!
All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
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