Prior to VPG taking ownership, this 26-unit development was a family-owned investment purchased and rehabbed
in 2005. Current rents for each unit were $550/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 $472,396 ($18,169/unit) in development costs to extensively renovate and upgrade the Property’s interiors, exteriors, amenities, and landscaping over a 7-month period. This invested allowed
us to raise monthly rents from $550 to $725 and stabilize rental operations.