When taking over management of a 120+ multi-family apartment complex in Orange County, CA, we conducted a thorough review of the property and its location. We were able to increase rent by an average of $300 per unit by understanding the sub-market, including the amenities potential tenants desire and improving curb appeal. We increased occupancy from 88% to 97%, while maintaining a 0% delinquency. This added 18% to the NOI, which allowed the owner to refinance and pull out all his equity from the building within 18 months.
- Increased monthly rent by $300 per unit on average
- Improved curb appeal
- Increased occupancy to 97%, while maintaining a 0% delinquency
- Added 18% to NOI