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Red Bridge Partners V, LLC acquired this 9-unit, apartment building located in the Hayes Valley of San Francisco, CA in April 2015 for $2,385,000. Along with general building improvements, and unit renovations, our investment strategy focused on converting existing ground floor parking into two additional units through San Francisco’s newly passed ADU (Additional Dwelling Units) program. After completing the buildout of the additional units, and renovating two units through natural turnover, we were able to increase in-place operating income from $78,691 to $212,000 (a 169% increase) in less than 2.5 years. Our investors realized a total return on investment (ROE) of 36.84%, or a 16.68% annualized return on their investment.
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