Acquired Mosser Capital affiliate in April of 2013, in a programmatic joint venture partnership. Investment realized via recapitalization in December of 2015. 

Originally built in 1913, four-story 114-unit building, comprising 68,575 square feet

Total Units: 114 | Studio (82), 1 Bedroom (32)

• Invested approximately $1.1M in base building and unit renovations.

• Completely renovated and repositioned the commercial storefront.

• Negotiated a buyout of the existing commercial tenant to merge retail spaces.

• Delivered a high-end restaurant space and attracted a notable San Francisco chef/restaurateur.

• Introduced a modern industrial façade and upgraded exterior paint, storefront, and signage.

• Upgraded the electrical system, including separation of electric metering.

• Improved common areas (paint, carpeting, lighting) to enhance curb-to-unit experience.

• Renovated nearly all residential units on turnover with new flooring, paint, kitchen finishes, appliances, and bath finishes.

During the hold period, residential rents increased by 57.5% and retail rents increased by 400%. The investment significantly outperformed original projections.