Repositioning Case Study #6
Mulberry Park Apartments
Taylorsville, UT
| Vintage |
1991 |
| Units |
80 |
| Date of Acquisition |
4/3/09 |
| Date of Sale |
Not Sold |
| Purchase Price |
Undisclosed |
| Sale Price |
N/A |
| Projected IRR |
Projected 18% |
| Actual IRR |
TBD |
Conditions at commencement of SCI management:
- 97% occupied
- Average Rent: $958 and $1100/month
- Annual NOI of $685,000
Redevelopment Plan:
- Renovate unit interiors as units turnover; exterior renovation was completed by former owner
Results:
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Repositioning Case Study #6 -
Mulberry Park Apartments
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