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  • Lookout Pointe Apartments
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  • Acquisition Criteria
  • Acquisition Strategy
  • Repositioning Strategy
  • Multi-Family Focus
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Repositioning Case Study #5

Lookout Pointe Apartments
Provo, UT

Conditions at commencement of SCI management:

• 95% occupied
• Average Rent: $606/month
• Acquired in "off-market" deal for an undisclosed sum
• Annual NOI of $508,398

Redevelopment Plan:

• $320,000 ($2,782/unit) renovation budget
• Renovate interiors as units turnover, with bathroom & kitchen packages, paint and carpet
• Restripe and seal asphalt parking areas, improve playground amenities and BBQ area, repair steps/risers & fascia
• Provide new signage and landscaping

Results:

• To be reported

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Repositioning Case Study #6 - Mulberry Park Apartments
Repositioning Case Study #5 - Lookout Pointe Apartments
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