Value-Add Multifamily · Est. 2018
Buildings that
earned their
second life.
We acquire overlooked mid-rise apartment buildings and return them to market as refined, move-in-ready residences — with real numbers to back every decision.
Track Record
Since 2018 · New York, Chicago, Philadelphia · 12–40 unit buildings exclusively
Acquisition Thesis
The eye for
overlooked bones.
Every building we acquire has been dismissed by someone — a bank that wouldn't refinance, an heir who inherited debt, a landlord who ran out of runway. We see past the surface to the structure beneath.
What We Look For
6–40 units
Sweet spot where institutional capital ignores but upside is significant.
1960–1995 vintage
Solid concrete and masonry bones. Outdated finishes. Addressable systems.
B & C neighborhoods trending A
Gentrification momentum already present. We arrive before the wave crests.
Deferred maintenance
Sellers exhausted by ownership. We bring relief and fair price discovery.
“We don't buy buildings. We buy potential that the market has mispriced.”
— Principal, Turnkey Capital
Building Systems
New mechanicals.
No surprises.
We replace what fails quietly — the systems behind walls that determine whether a renovation holds its value for 30 years or 3.
Scope of Work
Roofing & Envelope
TPO membrane, new flashing, repointed masonry
MEP Risers
Replaced vertical plumbing, updated electrical panels to 200A per unit
HVAC
Mini-split systems, fresh-air ERV units, individual metering
Seismic & Structural
Soft-story retrofit where required, LVL beam replacements
Common Areas
Lobby, corridors, mailroom — all touched before units begin
Elevators
Modernization or full cab replacement, code compliance
All work permitted & inspected
Kitchen
Living Room
Primary Bath
Avg unit size
742 sq ft
Post-renovation, layouts expanded 8–12%
Completed Deals
The thesis,
in numbers.
Purchase price. Renovation cost. Exit value. No projections — only closed transactions.
1847 N. Kedzie Ave
Chicago, IL
24 units
1971 vintage
Purchase
$2.1M
Renovation
$1.4M
Exit Value
$5.2M
Investor IRR
22.4%
340 W. 23rd St
New York, NY
18 units
1968 vintage
Purchase
$3.8M
Renovation
$2.1M
Exit Value
$8.9M
Investor IRR
19.7%
2214 Fairmount Ave
Philadelphia, PA
31 units
1984 vintage
Purchase
$2.9M
Renovation
$1.8M
Exit Value
$7.1M
Investor IRR
21.1%
Free Resource
The Renovation Playbook.
Our 24-page guide to identifying, acquiring, and repositioning mid-rise multifamily assets in secondary markets. Download free — no pitch call required.