Location

EXECUTIVE SUMMARY:

Stratford Place Apartments were built in 1962 and have been well maintained over the years. This community boasts 54 spacious apartment homes. The unit mix consists of 32 one-bedroom/one-bath apartments, 12 two-bedroom/one-bath apartments, 8 two-bedroom/one-bath townhomes and 2 three-bedroom/2.5-bath townhomes.

Stratford Place is operating at 90.7% physical occupancy and has maintained a strong level of performance for many years. Through a detailed review of the rent roll, IPO has discovered that the property’s rents are significantly below market. With about 60% of the units in classic condition, there remains even more upside through a value-add upgrade program.