Commons at 114 presents a 39-unit value-add investment opportunity, offering both operational upside and significant long-term potential. With a diverse and attractive unit mix, the property is well-positioned to capitalize on strong tenant demand while providing multiple avenues for increasing cash flow. Its masonry construction, lush desert landscaping, and desirable community features create a solid foundation for strategic enhancements and rent growth.
The unit mix consists of (8) Studios, (4) 1BD/1BA units, and (27) 2BD/1BA units. Select units have already been upgraded with vinyl flooring, modern white cabinets, and upgraded finishes, allowing for the potential for further enhancement. All units feature air conditioning, ensuring year-round comfort for tenants. Upon further renovations Commons at 114 has more potential to be at market rents. Additionally, some units offer patios and private assigned parking enhancing the property's appeal to tenants.
Commons at 114 provides key community amenities designed for both tenant convenience and operational efficiency. The on-site laundry facility offers a valuable service and additional income, while the RUBS program for water, sewer, and trash helps optimize expenses. Each unit is individually metered for electricity and gas, allowing tenants to manage their own utility costs while reducing ownership expenses. With rents currently below market, investors have a clear opportunity to increase revenue through rental rate adjustments and targeted renovations. The combination of operational efficiencies, untapped rental upside, and a strong unit mix makes Commons at 114 an attractive investment for those looking to maximize returns.
This well-located, income-generating asset offers an opportunity to acquire a property with strong fundamentals and ample room for growth. With strategic improvements, Laguna Terrace is set to deliver exceptional returns and long-term appreciation in an increasingly competitive market.