|Last Updated Date||17 Jul 2020|
Crestone, a 234-unit gardenstyle apartment community conveniently located at the heart of the Havana Street retail corridor in Aurora, Colorado. Originally constructed in 2002, Crestone features a desirable blend of one-, two- and three-bedroom units, of which, 86% have been renovated.
- Crestone presents an opportunity to acquire a strong performing, value-add
- asset with clear upside potential through a strategic renovation program on
- the remaining classic units, along with additional income drivers through the
- implementation of CAM chargebacks, covered parking, and interior corridor
- upgrades. Current ownership has recently spent approximately $1M on nonrevenue
- producing capital expenditures, allowing a new investor to solely focus
- on income-driving upgrades.