- Property purchased in December 2014 as Sacramento, CA was setting up for surge in rental demand. The market had recently absorbed an oversupply of single family homes and was just beginning to see accelerated rent growth.
The housing collapse of the recession led to a limited number of new apartment units being added while a large number of former homeowners were transitioning into the rental pool.
- Limited capital investment created strong potential at the asset to improve the resident experience including enhancements to the building exteriors, clubhouse, gym, and pool area.
Property had a poor online presence and predominately negative resident reviews.
Original single-pane windows and large areas of turf over 24-acre site. Legacy water and electric systems were inefficient and contributing to unnecessary expense in common area expenses as well as high resident utility bills.