Presidential View Apartments

Cervera Real Estate Ventures (C-REV) has a long-standing commitment to acquiring workforce housing apartment buildings in densely populated neighborhoods of Miami-Dade County. Presidential View Apartments (PVA), located in North Miami, presented an opportunity to purchase an undervalued asset in a centrally located area along one of the neighborhood's busiest streets.

C-REV recognized that rents were trending upward, yet this property had not yet aligned with current market rates. The property required some renovations and recertifications from city agencies, which C-REV promptly initiated upon acquisition. Rents were quickly adjusted to market rates and continued to rise in response to growing demand for affordable housing. Additionally, all accounting and property administration processes were formalized and organized.

After 8 years of ownership, C-REV successfully sold the property for $5,850,000, reflecting an increase of $3,457,000 from its original purchase price of $2,393,000. This strategy of renovating, repairing, and increasing rents, coupled with professional management and meticulous record-keeping, enables C-REV to achieve maximum appreciation upon resale.