First year water utility expense savings of $324,000 alone. With an average savings of $27,000 per month.
$5,400,000
Property Value Increase
At a 6% cap rate, based off of lower operational costs, lower monthly bills and accurate tenant billing systems.
2 Month
Investment Pay Off
First month savings of $27,118 and a $85,000 credit for fixing leaks from their utility company resulted in a quick pay off.
What Sparked the $324,000 Solution?
Like many participants in the multifamily market, a 419-unit property in Columbia, SC, built in 1985, was facing significant financial strain due to uncontrollable water expenses. Here’s the steps they took to fix their problem and save $324,000 in the first year alone.
