Development Program:
The building was reroofed in 1997. Between
1997 and 2002 owner renovated the building and the common area,
including replastering the pool and installing a new pump and
equipment, planting new landscaping in the common area, repainting
the building, adding mansard tile entry canopy; renaming the building
and installing new entry signage, installing spanish tile flooring
at the entry and around the perimeter of the common area, installing
security intercom access system, installing new mailboxes at foyer
main entry, installing new laundry machines in the laundry room
(owner took over management of laundry income in 2002), reasphalting
the parking lot, and redecking all second-story walkways with
fiberglass decking. Car port was reroofed in 2001. Owner renovated
every unit. Improvements included vinyl tile at foyer, bathroom
and kitchen, new carpet throughout the remainder of the unit.
Replacement of all bathroom fixtures and cabinets was performed
as needed. New stoves, garbage disposals and new individual water
heaters were installed in every unit.
Owner implemented retenanting program,
including actively pursuing evictions for both monetary and nonmonetary
defaults and stringent screening of new tenants. Vacancies rose
to an average of 19% during 1998 and 1999. Building achieved a
sustained 100% occupancy in 2000 and 2001 and all vacancies have
been filled within 20 days since then.
