Home Investing With Us Properties Arbor Hills Apartments Avia Apartments Bella Vista Apartments Canyon River Ranch Kent Business Center La Plaza Midway Lexington Apartments The Marlborough Martha Lake Apartments Seattle Tower University Portfolio Advisory Services Management Services About Us Contact Us		Lexington Apartments 8720 59th Ave. SW Lakewood, WA 98499 96-unit Apartment Community Strategy: Reposition Acquired: October 2007 Status: Own   Investment Highlights Lexington Apartments was an opportunity to purchase an underperforming asset in a quality neighborhood of Pierce County, Washington, proximate to Tacoma. During the due diligence process, Trinity identified deficiencies in window framing and exterior siding conditions. A seller credit to the original purchase price covered the cost to re-side the property and perform repairs to damaged structural members. The result of the project was a community with a new, updated look, and positioned to effectively perform well into the future. Through aggressive property management and the on-site leasing efforts of the Trinity Management team, in-place rents were increased over the first eighteen months of ownership, from $761 at acquisition to $881, an increase of 15.8%.
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