Vista Gardens Apartments
Vista Gardens Apartments
Rehab, Rebrand & Reposition
Asset
- 116 Units in Pasadena, Texas
- YOC 1978
- Acquired December 2017
- Beginning Average Rents $0.84/SF, or $659/Unit
Work Completed
- Name changed – All new signage
- Fully Remodeled Office/Clubhouse Building
- Relocated pool equipment
- Rewired to add electrical grounding
- Added fitness center and children’s play area
- New roofs
- Full wood & paint
- Revamped pool area
- Extensive ironwork repairs
- Upgraded landscaping
- Plumbing & lighting upgrades to achieve Green Program compliance
- Converted from manual to computerized management system
- Ongoing unit upgrades
- Total CapEx $900K
Results, Nine Months After Acquisition:
Average rents increased 18% to $0.99/SF or $761/Unit
Average rents continue to rise as renewals cycle and unit upgrades continue

