In March 2018, when Kyiv’s market was still recovering from the previous cycle, an investor acquired an 80 m² apartment in French Quarter II for $112,000 — or $1,400 per m². The unit was delivered as a bare concrete shell, located in the heart of Pechersk, surrounded by embassies, cafés, and parks.

Over the next six months, the investor committed an additional $84,000 toward a full interior renovation — custom carpentry, imported finishes, and built-in storage — transforming the raw space into a contemporary home designed for stable long-term rental performance.

By October 2018, the apartment entered the market at $1,500 per month and leased within days, confirming both the pricing strategy and the demand for high-quality mid-scale housing in central Kyiv.

From 2018 to mid-2022, the property operated with zero vacancy and consistent rent payments, generating a steady flow of income. By that time, the cumulative rental earnings reached around $126,000.

In June 2022, anticipating renewed post-pandemic tenant mobility, the owner reinvested $10,000 into light upgrades — refreshed flooring, modern lighting, and optimized kitchen layout. Within a month, rent increased to $2,500 per month, and the tenant profile evolved from local professionals to international executives with long-term contracts.

This phase marked a strategic shift from simple cash-flow holding to active asset enhancement.

By early 2024, Pechersk entered a new growth wave. With limited new supply and high demand from foreign tenants, market rents rose again — this time to $3,200 per month. The French Quarter complex, once priced modestly, had become a benchmark of quiet luxury.

By September 2025, comparable resale transactions in the complex reached $5,300 per m², bringing the property’s market value to $424,000. Over seven years, the apartment produced $174,000 in rental income and an estimated $218,000 in capital gain, bringing the total revenue to $598,000.

With $206,000 total investment, the net gain stood at $392,000, translating into an impressive 190 % ROI — achieved not through speculation, but through timing, design discipline, and consistent management.