Vista, California | Units 161
Centrally located in the heart of North San Diego County,Sycamore Greens is a 161 units garden style community built in 1989. FPI assumed management in January 2013. The site has completed a full exterior renovation, with the owner’s intent to increase rents, NOI, and value.
Renovations
The renovations and new construction included interior improvements on 168 apartment homes with updates to flooring, fixtures, window coverings, plumbing, and electric. Exterior renovations gave the property an extreme revamping with new and improved game room, resident lounge, poolside lounge, barbecue area, and model home. Plans to remodel the leasing office, interior hallways, pool area, and laundry rooms are also underway.
Growth
The $5,211,000 investment for this dramatic repositioning gave The Chadwick an increased overall market rent of 4%. The properties net operating income also grew by $529, 681. The overall asset had and increased value of 9% and a 2000% return on investment.
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Increased Market Rent
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Asset Value Increase
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ROI
Sycamore Greens
Vista, California | Units 161
