"The work PlusOne Construction did
has more than paid for itself –
and they made it easy!"
– Steve Lazoff, Seattle, WA
Queen Anne Basement
PHOTO
TOTAL UNITS
Before
1
after
1
total beds
before
1
after
1
MONTHLY RENT
INCREASE
+$1,900
NET OPERATING
INCOME
+$1,900
roi
+52%
cash on cash
return
+7%
The Challenge
This apartment was an existing basement apartment which had been added to the building as an after thought in the distant past. The GC whom originally built the unit had poorly designed and constructed the unit. Among other issues, this unit had faulty electrical wiring, plumbing and sewer issues, narrow and akward hallways/ passages, and ugly design features in general.
The new owner was having a difficult time leasing the unit to prospective tenants. The owner also wanted to ensure that the unit was going to be safe for those whom lived there.
The Solution
We first worked with the owner and developed a new layout that utilized the space properly. We got rid of the narrow & akward hallways and replaced them with spacious access ways.
We then turned our focus on remedying all the bad electrical wiring and plumbing/ sewer issues. Finally, we worked with the owner to develop a finish package that really pops. The end result was a fantastic unit that the owner could rent for a premium while also knowing that the unit was safe for his tenants now and in the future.
