LOCATION: 1460 Contra Costa
TYPE: Multi-Family Residential Housing
PHASE: In Construction
We purchased this property off-market with rents at 60% of nearby institutional comps due to inferior management.
Performed vast building re-purposing (re-placed exterior façade including new sheathing, waterproofing, and stucco, upgraded stormwater system to C3 standards, re-plumbed property, replaced staircases, completely new hardscapes, and demoed and built out a new leasing office, replaced the roof and weatherization of all exterior windows) and full aesthetic upgrades (signage, paint, railings, and landscaping). This lead to rents beating the local comp set with a total Basis of ~13M.