Asset Details
CalTier invested in APEX in June 2022 with our real estate partners, Bakerson and Camino Verde Group. APEX was originally built in 1968 and consists of 152 units, including 16 1 Bd/1Ba, 96 2Bd/1Ba, 40 3Bd/1.5Ba. It is centrally located near bus routes and major employment locations. The area is targeted for redevelopment and a neighboring mixed-use development just broke ground.
Upon acquisition, our partners began updating the units to attract longer-term residents. APEX is still on track to have renovations 75% complete within 2 years of acquisition and 100% complete by year 3.
Some of the planned renovations include:
- Resurface countertops
- Install new flooring
- Paint Cabinets
- Add backsplashes
- Paint walls
- Install low-flow water devices
- Paint exterior
- Install new playground
In less than a year, APEX has produced a 5.78% return on the initial investment amount.
