In March of this year, we purchased this three-bedroom home in the Jefferson Park neighborhood of Los Angeles for roughly $650,000. Our initial business plan was to rent the property for seven to ten years with the intention of generating consistent cash flow while participating in the appreciating home values in the Jefferson Park neighborhood.
However, soon after purchase, we saw strong interest from buyers and elected to pivot from our initial strategy, selling the property for $750,000 in May. After closing costs, this investment generated a profit of roughly $59,000. In just under two months, we earned a return of roughly 8%.
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Profits from the sale of this property could contribute to future net asset value (NAV) increases for the National eFund. We look forward to providing further updates as we continue to grow your portfolio in Los Angeles and across the country. As always, please don’t hesitate to reach out to investments@fundrise.com with any questions or feedback.
