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Pasadena Triplex Success Story

Pasadena Triplex Success Story

Read more to discover how Primior was able to uncover the hidden value in a seemingly unremarkable Pasadena duplex, transforming it into a highly-lucrative triplex located in one of the city’s most desirable neighborhoods.

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Unlocking Hidden Value: How Primior Asset Management transformed an aging Pasadena duplex into a lucrative, highly-profitable triplex.

+205%

ROI

+50%

Occupancy

+250%

Rental Income

The Situation

In 2017, Primior Asset Management was approached with the challenge of finding value in an aging Pasadena duplex. The duplex had been neglected for several years and was in need of a complete makeover if it were to have any chance of becoming profitable. The owners lived in China, and were therefore unable to oversee the renovation process in person.

Primior accepted the challenge and developed a plan that would maximize returns while keeping costs to a minimum.

The Process

The first step was to assess the potential value of the property, which included an evaluation of local market trends and current rental rates for comparable properties in the area. Next, Primior executed various strategies to unlock the hidden value of the property, including:

  • Strategic demolition and remodeling to increase interior square footage.
  • Re-imagining outdoor spaces for enhanced curb appeal.
  • Hiring a local contractor for structural upgrades and repairs.
  • Improving neighborhood amenities such as parks, shopping, and transportation links.
  • Energy efficiency upgrades to reduce utility costs.

 

Finally, after completing the above steps, Primior needed to address the marketability, visibility, and financials of the property. A comprehensive marketing strategy was developed to attract potential tenants and a business plan was created that outlined the projected returns on investment for each rental unit. In addition, Primior also recommended leveraging digital marketing channels such as social media and online classifieds to reach more people.

After thorough tenant screening and lease negotiations, Primior was able to secure three long-term tenants for the triplex.

End Result

The end result was a highly-profitable triplex that offered much more value than the initial duplex did. Primior and its investors were able to realize substantial returns on their investments, thanks to a combination of cost effective strategies and an eye for unseen potential.

This case study serves as reminder of the potential value that can be discovered with the right expertise and planning. Primior’s team of experienced real estate professionals have a proven track record of transforming ordinary properties into extraordinary investments, helping both domestic and foreign investors unlock hidden value and reach their financial goals.

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