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Sep 6, 2016 11:01 EST

Crowdability: OpenDoor CoLiving – National housing brand for Millennials

iCrowdNewswire - Sep 6, 2016

OpenDoor CoLiving

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National housing brand for Millennials

 

COMPANY INFORMATION

Website:

http://opendoor.io/

Sector:

Real Estate

Location:

Oakland, California

OpenDoor creates and operates “co-living” homes: rental housing with 10 to 15 residents who share meals, space and experiences.

The company has completed the first phase of its growth. It has launched 3 properties in the Bay Area with 40 residents. It is now partnering with innovative developers on larger-scale retrofit and new construction projects, with another 150 bedrooms in its pipeline.

The company believes that it’s proven that there is high demand for co-living, but that it performs well financially:

The business model is traditional real estate, but co-living creates more asset value and higher management margins for OpenDoor. The company currently has $50,000 in monthly recurring revenue.

The company believes that young, urban Millennials increasingly crave “real community and strong friendships.”

Contact Information:

OpenDoor CoLiving

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