44-UNIT MULTIFAMILY ASSET
Westridge Apartments was purchased by Rebus Capital LLC in August 2017. This 1972 build asset had a value-add opportunity in the form of severely deferred maintenance as well as poor management (several tenants paying month-to-month and/or behind on rent, and only 45% occupied).
Rebus Capital is updating the exterior of the property by repairing damaged brick and railing, resurfacing the parking lot, freshening the exterior with new paint, installing attractive landscaping, and updating signage.
The interior of the units will be a total renovation. They are being gutting and completely updated with vinyl wood-plank flooring in the common and wet areas, new fixtures, paint, and carpet to give them all a clean, safe, and new feel that any family would enjoy living in.
Lastly, Rebus Capital has hired a full-time onsite management and maintenance team with years of experience with this particular property.
Based on this value-add play, Rebus Capital LLC and our investors will enjoy healthy returns.