Edgeworth
LOCATION
200 Edgeworth Street, High Point, NC 27262
PURCHASED
February 2024
PRICE
$850,000
SOLD
June 2025
PRICE
$1,475,000
NUMBER OF UNITS
17

Edgeworth is 17-unit garden-style condominium community set in centrally located High Point, North Carolina, with convenient proximity to the mountains and the beach. In February 2024, Rigamax acquired Edgeworth, a Class-C property, for $850,000.
In just over a year, Rigamax had successfully upgraded the property to Class B through capital improvements to the exterior and common areas as well as the condo interiors. Outside renovations included refreshing the landscaping, adding new community branding & signage, new mailboxes, new gutters and down spouts, and a new roof. In-unit renovations included new kitchen cabinets and countertops, new stainless-steel appliances, new hardware, luxury vinyl plank flooring, and new HVACs as needed. This full community enhancement resulted in an average per-unit rent increase of 103% (from $440 to $895) and Rigamax was able to sell Edgeworth in 2025 for 187% gross IRR.


“We believe one of the keys to our success is that we do less than 5 deals a year. The reasoning behind this, is it allows us to be meticulous about finding properties with equity at closing.”
Max Sivohins,
Founder


