The Reserve at Britton Park

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Actual Investment IRR

94%

Actual Investor IRR

41%

Actual Hold Period
1.5 Years

The Reserve at Britton Park, located in Manning, SC, is a 41-unit that was built in 1999 and has a mix of large 2BR/1Bath and 3BR/2Bath units.  At purchase, the units were very dilapidated and needed heavy work, but within 1 year the ECA teams renovated 98% of the units with new washer/dryer hookups, new LVP flooring, new appliances (dishwashers, microwave, stove), new countertops, and more.  The teams also completed full roof replacements, full parking lot replacements, heavy landscaping, and numerous exterior improvements.


Purchased in March 2024 at an extremely favorable cost basis of $35K/door, the Emerald City Associates teams pushed rents up from the ~$550/unit at purchase to ~$1,060 at exit in rapid timing - resulting in a ~88% cash out refinance at the 1-year mark, followed by a sell at $90k/unit 6 months later.


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