Case Studies
Proven Strategies. Real Results. See how our proactive management approach maximizes value and peace of mind for property owners.
833 Fedora St
Los Angeles, CA 90026
The Challenge
Acquired in 2010, this property had suffered from poor management and multiple problem tenants, including gang activity. Significant renovations were required for both the exterior and interior to reposition the asset.
Our Strategy
Improve tenant quality and rental income by removing gang-affiliated residents and underperforming tenants, coupled with comprehensive unit renovations and exterior improvements.
Results
The building was sold in May 2021 for 5.35M with investors receiving a 31% IRR and a 4.5 EM.
668 S Rampart Blvd
Los Angeles, CA 90057
The Challenge
Rampart is a 44-unit multifamily property located minutes from Koreatown. Upon purchasing the property, there were no vacancies and 17 of the 44 units were significantly below market. Moreover, the management of the previous owner had high operating expenses.
Our Strategy
Going in we planned to buy out tenants and renovate the units in order to obtain market rents, increasing the NOI. Rosano Property Management was able to reduce operating expenses.
Results
We sold the property in April 2015 for 3.6M resulting in a levered investment return of around 38%. The annual gross income grew by 6.18% YOY during the holding period.
3903 Sunset Blvd
Los Angeles, CA 90029
The Challenge
3903 Sunset is a retail property, on a long-term master lease, returning $3,800 per month in NOI. Noting the total square footage, we recognized through market and comparable analysis that this building could benefit from a change in the lease. We believed the property could potentially return as much as $15,000 per month.
Our Strategy
The Roman Group discovered that there were multiple violations on the lease by the tenants. With this knowledge, we managed to break the lease with the master tenant, obtain possession of the property and bring rents up to market rates.
Results
We negotiated the deal at a 4.3% cap rate for $1.05mm. With the new lease in place, this property is on its way to returning $15,000 per month. The property is currently returning 17% to our investors and is valued at $2.5mm.
953 Vendome St
Los Angeles, CA 90026
The Challenge
953 Vendome is a seven-unit multifamily property that was significantly below market rent prior to sale due to rent control and the long tenancy of its occupancy. It was eventually discovered that the tenants who occupied the units were members of one extended family.
Our Strategy
After looking into the leases and finding some modification violations we proceeded to negotiate with the tenants. We utilized relocation fees to place a down payment on a house for the family.
Results
After the tenants relocated, we leased the property at market rates which were 100% more than the prior lease rates. The property is now achieving a 15% return on the original purchase price.
2623 Barranca St
Los Angeles, CA 90031
The Challenge
The multifamily building on Barranca was a five-unit building, two of which were extraordinarily small. After some investigation, the we discovered that the property was permitted as four-unit building in the city records, but one of the units had been split into two.
Our Strategy
We obtained the necessary permits to reconvert the building to four units. This conversion meant the building was no longer multifamily in unit count and allowed us to receive a government loan as opposed to a bank loan.
Results
By capitalizing on the discrepancy between unit counts and reconverting the building to four units, we were able to obtain a greater loan amount and complete the renovation quickly. After renovation, we sold the property for $475,000.
341 Gramercy Pl
Los Angeles, CA 90020
Asset Information
Value Price: $7,600,000
Total Units: 12
Building SF: 15,738
Lot SF: 8,014
Year Built: 1929
Business Plan Executed
341 Gramercy was identified as a promising value-add investment opportunity. The property was originally a conventional apartment complex that has since been converted to coliving and is presently under the management of Living Q. After a strategic infusion of $385,000 in CapEx, which included tenant buyouts, exterior and interior renovations, and additional amenities, the property has now been successfully stabilized.
5611 Fulcher Ave
North Hollywood, CA 91601
Asset Information
Acquisition Price: $4,350,000
Total Units: 21
Building SF: 21,740
Lot SF: 14,031
Year Built: 1964
Business Plan Executed
Located in the highly desirable NOHO neighborhood, 5611 Fulcher was identified as an attractive value-add investment opportunity due to the strong tenant demand in the area. Since its stabilization in 2015, the property has generated consistent cash flows, prompting its current LP investors to retain ownership. The property is currently undergoing the construction of two additional ADUs, which are slated for completion in May 2023. The new ADUs are projected to boost the annual NOI and consequently enhance the overall value of the building.
755 Pine St
Altadena, CA 91001
Asset Information
Value Price: $5,375,000
Total Units: 19
Building SF: 14,182
Lot SF: 22,260
Year Built: 1958
Business Plan Executed
Pine is a value-add opportunity, which Roman Group acquired and subsequently enhanced. The property was initially unstabilized and mismanaged, but Roman Group undertook a series of improvements, including the addition of two new ADUs, expected to be completed in March 2023. The renovation effort also involved upgrading the overall quality of the building and buying out delinquent tenants. As a result of these efforts, the property has been transformed into a stable and profitable investment, generating steady cash flows and boasting a reliable tenant base.
515 E Vernon Ave
Los Angeles, CA 90011
Asset Information
Value Price: $4,000,000
Total Units: 6
Building SF: 7,747
Lot SF: 15,782
Year Built: 1988
Business Plan Executed
Vernon is a retail center located in a prime neighborhood that we acquired at a bargain price. After purchasing the property, we made a series of strategic improvements, including exterior renovations and tenant upgrades, to enhance the property’s value. Additionally, long-delinquent tenants were replaced with new, more reliable tenants who agreed to rent at market rates. As a result of these efforts, Vernon is now a stabilized property with steady cash flows and low expenses, thanks to the implementation of NNN leases.
770 N Hill Pl
Los Angeles, CA 90012
Asset Information
Value Price: $2,940,000
Total Units: 16
Building SF: 10,880
Lot SF: 10,396
Year Built: 1965
Business Plan Executed
We were able to acquire Hill at below-market rate due to our strong relationship with the seller and broker. Although the building was originally valued at $3,200,000, we were able to negotiate a favorable purchase price. Since then, Rosano Property Management has successfully negotiated 7 tenant buyouts, allowing us to increase the property’s value and maximize its potential. Hill is situated in the heart of Chinatown, which is known for its strong rental market.
1903 K St
San Diego, CA 92102
Asset Information
Value Price: $2,575,000
Total Units: 28
Building SF: 5,818
Lot SF: 8,705
Year Built: 1907
Business Plan Executed
1903 K Street is another property in our portfolio managed by Living Q. This property offers co-living spaces, which allows us to maximize the building’s square footage and achieve a high NOI. The property underwent renovations both inside and out, and we added amenities to enhance the living experience for our tenants. Situated in the desirable Sherman Heights neighborhood of San Diego, the property has experienced strong tenant demand. Our inclusive community approach, combined with an on-site community manager, has helped to create a welcoming and supportive living environment for our tenants.
607 9th Ave
Escondido, CA 92025
Asset Information
Value Price: $3,280,000
Total Units: 3
Building SF: 14,106
Lot SF: 27,878
Year Built: 1953
Business Plan Executed
Located in San Diego County, 607 9th St. is a thriving retail shopping center with three tenants, including the highly-regarded anchor tenant, Family Dollar. The center was meticulously developed from the ground up, preserving only a few of the original walls, and boasts a 100% occupancy rate.
The asset was purchased by a motivated seller at a below-market rate, making it an excellent investment opportunity. The surrounding area is densely populated with high traffic making it an ideal location for any retail establishment.
1825 S New Hampshire Ave
Los Angeles, CA 90002
Asset Information
Value Price: $2,325,000
Total Units: 10
Building SF: 6,410
Lot SF: 7,114
Year Built: 1958
Business Plan Executed
1825 New Hampshire is situated on the border of Pico Union in Los Angeles, strategically positioned in close proximity to downtown LA, Koreatown, major freeways, and key public transportation lines. This coveted location makes it an ideal choice for both residents and students attending nearby institutions such as USC.
Under our adept management, the property underwent several changes that have positively impacted its revenue stream, including replacing several tenants who were paying below-market rent with new occupants at more favorable rates.
1846 N Wilton Pl
Los Angeles, CA 90028
Asset Information
Value Price: $2,125,000
Total Units: 9
Building SF: 2,956
Lot SF: 8,784
Year Built: 1907
Business Plan Executed
Recently acquired, 1846 N. Wilton is a newly-stabilized property purchased in a distressed sale, which has proven to be an excellent addition. The property boasts a range of attractive features, including shared amenities such as a large outdoor terrace that is accessible to all tenants. With a steady cash flow and a desirable location, 1846 N. Wilton is a prime investment opportunity.
The cap rate is low because of the location and the property will be sold as a single-family home.
1608 S Wilton Pl
Los Angeles, CA 90019
Asset Information
Value Price: $1,835,000
Total Units: 6
Building SF: 4,880
Lot SF: 8,912
Year Built: 1960
Business Plan Executed
The acquisition of S. Wilton represents a shrewd investment in a distressed property that was previously in the Los Angeeles’ Rent Escrow Account Program (REAP). Under our diligent management, the property was successfully removed from REAP status after working closely with the city authorities to resolve any outstanding issues.
Strategically located in the vibrant neighborhood of Koreatown in Los Angeles, S. Wilton boasts an enviable location near popular bars and restaurants, making it an attractive choice for residents.
1230 N Evergreen Ave
Los Angeles, CA 90033
Asset Information
Value Price: $2,145,000
Total Units: 8
Building SF: 6,032
Lot SF: 9,293
Year Built: 1948
Business Plan Executed
1230 Evergreen is an 8-unit multifamily property that was acquired by Roman Group from a motivated seller at a below-market rate, offering significant value and potential for future growth. The property is situated in close proximity to several popular destinations, including Dodgers Stadium, Downtown LA, and the Arts District.
Thanks to our investment in exterior improvements and the turnover of several units, the value of the property has increased dramatically. Additionally, our vision for the property includes the development of two ADUs, further enhancing the asset’s value.