Multifamily Granite Counter Investment Decision

Granite counter tops in rental communities provide a valuable competitive advantage in attracting and retaining residents - while adding lasting value to your property. Real granite counters yield over a 20% return on investment over laminate and cultured marble tops with a rent premium of as little as $4 per month. For example, at an 8% cap rate $4 per month in rent equals $600 in real property value ($4x12/.08). If laminate/cultured marble counters cost $275 per unit and real granite counters cost $750, the incremental rate of return is (600-475)/475 or 26% based on only $4 extra per month in rent! At a rent premium of $25 per month the investment is paid off in 19 months and the return on investment (689%) is substantial. Using the same figures, at $25 per month the return on investment for a 306 unit property could be over $1 million (306 units x($25x12/.08-$475)). Obviously, pricing varies based on unit layouts, project size, project location, schedule and materials selected. Whether renovating a whole property, creating 50 premium units, or building a new property, contact The Baypath Group for details at www.TheBaypathGroup.com