At Venus Venture, we specialize in unlocking hidden value — and nothing showcases that better than our favorite turnaround project to date. What started as a vacant, neglected building in a forgotten part of town quickly became one of our most successful value-add investments.
This is the story of how we transformed a troubled asset into a thriving, income-generating property — and how strategic vision, careful planning, and hands-on execution turned challenge into opportunity.
The Property: A Forgotten Gem
The property was a 12-unit multifamily building located in a transitional neighborhood on the edge of a growing metro area. On paper, it looked like a risk:
- 100% vacant
- Years of deferred maintenance
- Dated interiors and exteriors
- No recent upgrades
- Uninvolved absentee owner
But we saw what others didn’t — location potential, structural soundness, and a path to repositioning that could deliver strong cash flow and long-term appreciation.
The Acquisition
Thanks to our broker relationships, we were able to secure the property off-market at 30% below comparable sales. The seller was motivated, tired of managing the property from out of state, and willing to close fast.
We conducted intensive due diligence — inspecting plumbing, electrical, foundation, and zoning — and confirmed that while the building needed work, the bones were solid. It was a classic “diamond in the rough.”
The Turnaround Plan
Our business plan had three main phases:
1. Renovation & Repositioning
We invested roughly $450,000 into:
- Full interior remodels: new flooring, appliances, cabinets, lighting, and bathrooms
- Exterior upgrades: new paint, roof repair, landscaping, signage, and security lighting
- Utility modernization: plumbing updates and individual metering for tenants
This not only raised the aesthetic and functional value of the property, but also reduced long-term maintenance costs.
2. Leasing Strategy
We partnered with a local property management firm to:
- Market the units to working professionals and small families
- Offer move-in incentives for early leases
- Set competitive rents with gradual increases planned
All 12 units were leased within 90 days of renovation completion — at 22% higher rents than originally projected.
3. Stabilization & Refinancing
Once stabilized, we refinanced the property based on the new NOI and appraised value, which had increased by over 60% from purchase. The cash-out refinance returned over 80% of our initial capital, which we redeployed into our next project.
The Results
Here’s a snapshot of the financial outcome:
- Purchase Price: $960,000
- Renovation Cost: $450,000
- All-in Basis: $1,410,000
- Appraised Value (Post-Renovation): $2,250,000
- Annual NOI (Stabilized): $165,000
- Cap Rate on Cost: ~11.7%
- IRR (5-Year Projection): 21%+
This project didn’t just beat expectations — it became a blueprint for future Venus Venture projects.
What Made It Work
The key to success wasn’t luck — it was our process:
✅ Disciplined underwriting to identify hidden value
✅ Hands-on renovation oversight to control costs and timelines
✅ Proactive leasing strategy to stabilize quickly
✅ Creative financing to maximize returns and reduce capital lock-up
We took a forgotten, underperforming asset and made it a cornerstone of the neighborhood’s revitalization — delivering strong returns for our investors while improving local housing stock.
Final Thoughts
Turnaround projects like this are what Venus Venture was built for. We don’t chase the obvious deals — we create value where others see risk. From neglected to needed, from vacant to valuable — this is how we turn potential into performance.
Whether you’re a seasoned investor or looking to diversify into real estate, projects like these show what’s possible when you combine vision, experience, and execution.
Ready to explore your next high-potential opportunity? Join us.