At Lakeside, we identified an opportunity to correct subpar renovation efforts by the previous owner, which had left the 216-unit property with rents well below market potential. Our ongoing value-add program focuses on high-quality unit upgrades, expanded amenity offerings, and enhanced customer service. The market has responded enthusiastically to these improvements, accelerating our timeline and allowing us to make substantial progress in reducing the property's Loss to Lease (LTL).
Current Performance: Achieving $327 average monthly premiums on renovated units, translating to a 34% return on cost.
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