This project is a typical value add plan with atypical strengths. We have identified an open niche in the local market for a B class property and will take advantage of this property’s surprisingly good existing condition to add amenities, rehab interiors, and move this property to fulfill that void, there by forcing appreciation and creating a strong return for investors.
Approximately 90% of units will receive our typical interior renovation to include modern laminated vinyl plank flooring, painted cabinets, updated pulls, resurfaced countertops, modern plumbing and light fixtures, and an updated paint scheme. All units will receive upgrades to the existing toilets, shower heads, and aerators on facets. We expect this to produce a 30–40% savings on water costs moving forward.
Exterior Renovation and Amenities
Existing amenities are in good shape but dated. We will re-purpose the tennis court for pickle ball courts, two existing pools will be lightly updated, and the existing covered patio is to be cleaned, repainted, and an outdoor kitchen is to be added. A new monument sign will be installed near the street, parking lots will be sealed and re-striped, exterior lighting will be changed to LED fixtures, a pedestrian gate will be added to the new city park, and a dog park with covered seating will be built