12 Lyman Street – Waltham, MA
Why We Did This Deal
When we found 12 Lyman Street, it was an outdated, underperforming 5-unit property. The previous owner lived out of state and the asset had been neglected. We saw the opportunity to unlock equity and reposition the property for higher rents.
What We Improved
- Renovated all units, including basement and garage
- Boosted curb appeal
- Tripled the rent roll
Created a fully stabilized, refinance-ready asset
Results
- Immediate equity created on day of purchase
- Capital fully returned via refinance
- Long-term cash-flowing asset
- Proof of concept: our RPM strategy delivers real returns
Investment Snapshot
Strategy:
Buy & Hold + Renovate + Refinance
Capital Stack:
All-cash purchase, $150K CapEx
Initial Rent Roll:
$4,300/month
Current Rent Roll:
$14,940/month
Cash-Out Refi:
$1.65M pulled out
Equity Created:
$500K+
Capital Left In:
$0
Before 3D Tour
After 3D Tour
Deal Type:
Multifamily (5 Units)
Acquired:
September 2024 for $864,000
Current Valuation:
$2.2 Million
Ownership Structure:
62% PPB, 19% each by 2 partners (LLC)
