A More Recent Example is the Barcelona. Build in 1922, beautiful building with a lot of charm. The Barcelona was a complicated purchase located in a great part of the city. No one else bought this building because they couldn't see past the problems, in this case the opportunities. The way to figure the future value is to take the NOI and divide it by the Market Cap Rate.
Every market has a different cap rate.
The lower the cap rate the more valuable the location. Full time hands on attention by a managing partner. There is no way I would risk this without having someone managing the buildings that is invested financially and emotionally. If you try this with a property management company like so many people do, you will not maximize the opportunity that exist. Over the next five years my goal is to buy another 2500 apartments in the southwest United States.