Case Studies

case_study_the_pointe

The Pointe at South Mountain Property Summary

  • Phoenix, Arizona
  • Located in a Master Planned Community
  • Adjacent to a golf course
  • Built in 1988, 38 two-story buildings and 364 units
  • Two community pools and barbecue areas
  • Near I-10 and 101 Freeways
  • Near major employment
  • Since 2011: $1,625,000 ($4,500 per unit) spent on improvements/renovations
  • 99 units renovated / 265 units un-renovated

Transaction Overview

  • $22.7 Million purchase/$62,360 per unit
  • Acquisition NOI of $1,570,218
  • 2013 Projected NOI $2,056,967
  • Increase in NOI of 31% since acquisition

Project Renovations

  • Kitchens – new appliance, fixtures, and flooring
  • Living Rooms – new/repaired flooring, new electrical fixtures, new ceiling fans, blinds, and base boards
  • Bathrooms – bath tub repair & resurfacing, new electrical and plumbing fixtures, and wood vinyl flooring
  • Exteriors – New and enhanced entrance monument, new accent lighting, new stamped asphalt
  • Common Areas – expanded pool, new pool furniture, and upgraded leasing office
Before and After PhotosClick here to view slideshow