towncenter.jpg

CASE STUDY

Town Center Apartments

Market: Queen Creek, AZ
Built in: 2009
Units: 176
Acquired: January 2017

Sold: October 2019

Property Characteristics

Situated in one of the fastest-growing cities in Western USA, Town Center Apartments is located close to highly desirable retail venues, freeway systems that connect to the greater Phoenix Area, and the Phoenix Sky Harbor International Airport. The property features up to 3-bedroom apartments with a shared swimming pool, community clubhouse, and covered parking lot.

iStock-1153563926.jpg
 
 
7374-m-IslesEastMillenia_303.jpg

Improvements Applied

The renovation program included, among other things, painting the entire property exterior, complete renovation and remodeling of the leasing office, clubhouse and fitness center, resurfacing the pool, renewing the pool deck, and upgrading the community's exterior lighting and dog park. The property’s website and other marketing tools were also significantly improved. In addition, all units were renovated including upgraded flooring and cabinetry, with the addition of all-new fixtures. The result of these improvements paired with numerous successful operating and management changes brought the property to a whole new level which led to an outstanding disposition in late 2019 with returns to investors much higher than originally projected.

Property Gallery