Built in 1972
11% annual cash-on-cash return
104% projected ROI within 5 years
Set on 15 acres, Primrose Place is a 168-unit low-rise garden-style apartment with abundant amenities. The property boasts a tennis court, swimming pool, running track, disc golf course, and huge resident clubhouse with billiards and ping pong tables. In addition, the property has large unit sizes ranging from 1 to 4 bedrooms. We have set aside a healthy rehab budget to bring Primrose Place up to market pro forma rents. We will add new amenities such as a dog park and outdoor exercise equipment, upgrade interior units to a more modern theme, implement a water and energy conservation program to reduce utility costs.