We take a mixed use property last updated two decades ago and invest $560K of capex funds to bring it up to modern standards including renovations of units, a vacant commercial space, major systems, and re-leasing units.
A 44-unit garden style with 1980s unit finishes and <25% below market rents. With $1.5M in capex, we renovated units to modern finishes, replaced major systems and roofs, built a new playground, & more.
An intensive $4.5M capex project transforming a 70 unit C+ mixed use distressed asset with significant issues into a 78 unit A- prized asset. Heavy renovations, conversion of commercial space into a residential lobby, and adding a suite of amenities.