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Horizon Village 

LOCATION

3838 West Avenue, Greensboro, NC 27407

PURCHASED

April 2022

PRICE

$975,000

SOLD

June 2025

PRICE

$1,230,000

NUMBER OF UNITS

12

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Horizon Village is a 12-unit garden-style condominium community set in centrally located Greensboro, North Carolina, within the growing Triad region. In April 2022, Rigamax acquired Horizon Village, a Class-C property, for $975,000.

 

Over the course of ownership, Rigamax implemented a series of capital improvements—upgrading exterior and common areas as well as interiors, taking the property to Class B. Outside renovations included refreshing the landscaping, adding new 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.  Horizon Village had over 90% occupancy at purchase and maintained a steady 70% occupancy as it was rehabbed. Spend per unit was $5,416 and the average per-unit rent increase was 81% (from $550 to $995). Rigamax’s value-add strategy paid off. The property sold in 2025 for 108% gross IRR.

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“The Rigamax approach to investing is not one and done. We don’t cut ties at the first opportunity. We allow our investors to keep their equity after refinance. Our hope is they’ll build true generational wealth through working with us.” 

 

Max Sivohins,

Founder

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