Location

EXECUTIVE SUMMARY:

Holmes Apartments is a California-style apartment complex constructed in 1967 and comprised of 29 units. The unit mix consists of 23 one-bedroom units (625 sq.ft.) and 6 two-bedroom units (715 sq.ft.). In 2021, all 29 units were completely renovated with new flooring, cabinets, appliances, window AC units, and paint. In total, $700,000 was spent on unit interior renovations ($24,138/unit). Additionally, Holmes was outfitted with a new roof, siding, windows, and electrical. The boiler and water heater were also repaired. The property is outfitted with landlord-paid heat and water & sewer with a $25 per unit tenant-paid water reimbursement and tenant-paid electrical.