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Bella Vista Apartments
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72-unit Apartment Community
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| Investment Highlights |
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| Bella Vista Apartments (formerly “Plaza Del Sol”) was an opportunity to acquire an underperforming asset in a strong submarket of North Napa. Inherent strengths of the asset include a location two blocks from Napa County’s regional hospital, Queen Of The Valley Medical Center, proximate to and ancillary medical office buildings clustered in the immediate area, which provide a quality core of rental demand from nursing and other healthcare professionals. |
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| The prior owner held the property for 25 years, and while generally well-maintained, the community lacked upgrades and amenities sought after by prospective residents in the Napa market. |
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| Trinity formulated and executed on a repositioning program consisting of unit interior upgrades, installation of washer/dryer units, and upgrades to the rental office, all of which improved the market position of the asset, and resulted in the opportunity to significant increases rents to current market levels. In the first twelve months of ownership, Trinity increased in-place rents from an average of $1,034 per unit to $1,246 per unit, and increase of 20.5%. During the extensive repositioning project, strong occupancy levels were maintained, averaging 94% during the first twelve months of ownership. |
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