The W Sunset Blvd project was acquired in late 2019 for $3,750,000.  The property consists of 16 apartments, and is located on Sunset Blvd in the center of the Silver Lake neighborhood of Los Angeles. Constructed in 1919, and upon acquisition, the condition was completely original and uninhabitable.  The renovation project included taking the building to the original wood framing, and the scope of work was effectively brand new construction.  100% of the plumbing and electrical systems were replaced, and the apartment interiors were rebuilt from scratch.  Despite the start of the COVID pandemic just three months into the project, we completed construction within 12% of the original budget and within four months of the original timeframe.  All 16 apartments were re-leased in less than 10 weeks, and we achieved rents that far exceeded the original pro forma projections.  At acquisition, the average monthly rent for studio apartments was $840, and the average monthly rent for one bedrooms was $875.  Maywood achieved rents ranging from $2,200 to $2,650 for studios, and $2,700 to $3,100 for one bedrooms.  The current estimated value is $8,100,000, which equates to an Equity Multiple of 1.47x and an IRR of 20.4%.