LAS VEGAS, Jan. 10, 2019 /PRNewswire/ -- Crystal View Capital Fund I, LLC is pleased to announce the sale of Recreacres Mobile Home Park in Stevens Point, WI. During our ownership, Crystal View Capital increased lot rents by 50%, which translated into a $150,800 increase in Net Operating Income (NOI).
"This investment truly represents a classic example of a low downside and huge upside. Our capex investment was negligible; the value creation was simply identifying that rents were grossly below market and then bringing those rents to a market level. As a result of such, we monetized the increase in NOI thereby realizing $2,316,524 in value while taking on little to no risk. We are very pleased with the returns this property has provided to us," said Matthew Ricciardella, Managing Partner at Crystal View Capital.
Please contact our offices to receive an executive overview and learn more about making an investment into Crystal View Capital Fund II.
- Purchase Price: $2,500,000 or $14,044 per site
- Sale Price: $4,225,000 or $23,735 per site
- Free Cash Flow During Ownership: $670,661
- Net Profit after Selling Costs: $2,316,524
- Ownership Period: 3 years
- Initial Equity Investment: $470,373
- Internal Rate of Return: 105%
- Multiple on Invested Capital: 5.85x
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