1091-1101 N. Los Robles Avenue

Cardinal recognized an opportunity to increase the rental income from the building through investment in improvements consistent with the existing character of the building. The renovation included refinishing the hard wood floors under the carpet, replacing linoleum with tile, and giving each unit a custom paint job. Within 4 months of closing escrow on this 20-unit complex, Cardinal was able to increase scheduled annual rental income from $163,361 to $213,420. As a result, the partnership achieved a cash-out refinance in the first year of the investment.