Case Study:

Los Piñones

Santa Fe, New Mexico

Largely overlooked tertiary market with exceptional renter demographics.

Year built
Total units


One of two well-maintained class B multifamily assets purchased in prime locations in Santa Fe, NM during 2016.

Largely overlooked tertiary market with exceptional renter demographics and extreme supply constraints.

Property owned by the same family for over two decades, representing a strong opportunity to add value through both common area and unit improvements.


Virtú near completion on $2,648,000 ($16,974/unit) renovation. Enhancements to date have been transformational.

Extensive improvements made to property’s exterior and common areas including a newly remodeled pool and resident lounge.

Unit renovations designed to reduce monthly expenses by incorporating LED light kits, low flow plumbing fixtures, programmable thermostats, and Energy Star appliances.

Improved resident inquiries

Traffic counts for new resident inquiries up nearly 25%.

Improved occupancy

Occupancy rates now averaging in excess of 96%.

Increased rent

Asking rents for renovated units have increased nearly 30% over going-in rent-roll averages, two years after purchase.

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Denver, Colorado

Large traffic counts and a “hard-corner” location offered excellent visibility for improving the property’s drive-by.