The office complex was built in 1990, and underwent cosmetic renovations in 2004 and 2015. (cpexecutive.com)
The landlord is not required by law to «update» a rental unit with cosmetic renovations. (sdglegal.com)
With class C properties in Brooklyn Center and Brooklyn Park market in MN we have usually averaged an increase of 10 - 15 % ROI after doing cosmetic renovation work and simply raising rents. (biggerpockets.com)