Home Investing With Us Properties Arbor Hills Apartments Avia Apartments Bella Vista Apartments The Boulders Canyon River Ranch The Enclave Kent Business Center La Plaza Midway Lakewood Cinema Plaza Lexington Apartments Nob Hill Seattle Tower University Park University Place University Plaza Advisory 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 siding installation, which lead to damage to structural framing. A credit to the original purchase price covered cost to reside the property and perform repairs to damaged structural members. The result of the reside 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 after two years of operations, an increase of 15.8%.
Copyright © Trinity Real Estate. All Rights Reserved.