Scott’s Addition Building Owners Get Quadruple Return After 3 Years
February 15, 2022
By Mike Platania, February 15, 2022
It would take a whole lot of tune-ups to equal the return the owners of Ironwood Automotive just hauled in on their Scott’s Addition real estate.
The shop, which specializes in repairs on Honda, Acura, Toyota and Lexus cars and is owned by local couple Kayla and Aaron Williams, this month sold its building at 1704 Belleville St. to real estate developer Bonaventure for $2 million.
The Williamses bought the building for $490,000 in 2019, the same year they launched the business.
Kayla and Aaron Williams
Ironwood took over the 3,500-square-foot building that was home to Cosby’s Auto Service for 40 years. The Williamses made some upgrades to the shop, opened for business and then realized they had stumbled into the path of development in one of the city’s most sought-after neighborhoods.
Disclosures
The article is for informational purposes only and not intended to be all-inclusive and may be changed at any time without notice or obligation to update. This article does not constitute tax, legal, or financial advice. Bonaventure does not provide tax, legal, or accounting services. Tax laws and regulations are subject to change, and individual circumstances vary. Investors should consult their own tax advisor, attorney, or qualified intermediary regarding their specific situation before pursuing any of the strategies discussed. Forward-looking statements may be influenced by a variety of factors, many of which are beyond the control of Bonaventure and could cause the actual outcomes to be materially different from what is projected. Past Performance is not indicative of future results.
Investments in the shares involves a high degree of risk that prospective investors should carefully consider before investing. The investment is for Accredited Investors who have the financial ability and willingness to accept the risks and lack of liquidity inherent in an investment in the shares. There can be no assurance that investment objectives will be achieved or that investors will receive a complete return of their capital. This material is not an offer to sell or a solicitation of an offer to buy any interest in any fund sponsored by Bonaventure or its affiliates. Any offering is made only pursuant to a confidential private placement memorandum (PPM) and related offering documents, which should be reviewed in full and which control in the event of any inconsistency with this material. Share interests are not registered under the Securities Act of 1933 or any state securities laws, and Bonaventure offerings are not registered under the Investment Company Act of 1940.