Zevulon Capital, Inc. is pleased to announce the sale of White Oak Townhomes, a 34-unit community at 2721 White Oak Drive in Decatur, Georgia. Purchased in 2018 for $1.9 million, or $55,882 per unit, Zevulon sold the community for $2.89 million, or $85,000 per unit, generating an internal rate of return of 85% in less than 18 months of ownership.
After purchasing the metro Atlanta property, Zevulon executed a comprehensive repositioning plan that included exterior renovations, interior upgrades, and enhanced landscaping, cleanliness and security. These enhancements combined with property management optimization, increased cash flow by lifting rents to market rates, attaining premium rents on renovated units and implementing utility reimbursements.
“We’re thrilled with this sale and the increased value we achieved for our investors in less than two years through effective property management and strategic capital improvements designed to enhance livability and maximize rental rates,” said Yossi Kagan, Zevulon Capital Principal.
About Zevulon Capital
Zevulon Capital is a privately held, Atlanta-based real estate investment management firm that acquires and strategically transforms value-add multifamily assets across the southeast. Leveraging extensive market knowledge and industry insights, Zevulon successfully up-positions underperforming communities, creating profitability for investors and elevated living environments for residents. Visit zevcap.com to learn more