Cherry St Apartments
Chico, CA20-unit workforce housing community in Chico, CA. A portion of the units are undergoing full gut rehabs, repositioning them from $725/mo to $1,250/mo. The remaining units are being brought to market rents through operational improvements: normalizing leases, implementing RUBS for utility cost recovery, and maintaining high occupancy through active leasing.
The long-term strategy is to build equity through cashflow and forced appreciation, positioning the asset for a 1031 exchange into a larger property - chasing more cashflow while capturing the upside from repositioning.
Investors receive regular updates on leasing activity, rent collections, maintenance, and operational priorities.