Prior to VPG taking ownership, this 124-unit development was a family-owned investment purchased and rehabbed in 1983. Current rents for each unit averaged $600/month. The current owner was looking to retire and as such neglected most of the day-to-day management activities required to optimize this property. After purchasing the property, VPG invested $1,317,412 in development costs to extensively renovate and upgrade the Property’s interiors, exteriors, amenities, and landscaping over an 8 month period. This invested allowed us to raise monthly rents from $600 to $725 and stabilize rental operations.