Case Study

Minnie

minnie street apartment building Structure PMG

Minnie Street Apartments

1434-1438 S. Minnie St.,
Santa Ana, CA

Before

After

Background

Minnie is a 20-unit apartment building in Santa Ana, California. Eric Kramer purchased Minnie with a group of investors in February 2013. Chase Bank provided the acquisition financing. Structure PMG was hired to provide property management services.

Services & Improvements

After a successful repositioning of the asset, which included addressing deferred maintenance, a series of value-add capital improvements and increases to the income, we sold Minnie in April 2016.

Results

Through the sale and other distributions we were able to achieve a 29.47% IRR for the investors.