Kensington Renovation: Hart Lane

Update: November 2019

After a clean out and cosmetic fixed including paint, flooring, kitchen, trim, and light fixtures, Hart Lane looks like a totally new property. Dozens of renters inquired about this property, and it was quickly rented for $1,095/month.

Renovation costs: $33,000

Went about $8,000 over budget for renovation, for a total acquisition-to-rental cost of $88,000.

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Acquisition: October 2019

Gordon acquires the Hart Lane property in mid-October 2019. It is a 3 bedroom house The house has been decently maintained and so mostly cosmetic renovations will be appropriate for getting the property rental-ready. It is a 3 bedroom house a block from Somerset Station on the El. Renovation projects of interest include new flooring, a new kitchen, and paint among other improvements. The HVAC system will be addressed as well. After the work is done, a $975 monthly rent is projected.

Money in to Purchase: $55,000 cash

Expected Renovations Costs: $25,000