Estancia Apartments (formerly “La Mancha”)
72 Apartments
Santa Rosa, CA
Purchased: November 2012
 

Resort Living, that was Broll’s vision when purchasing Estancia. Broll executed its vision through wicker gazebos, outdoor sofas, progressive landscaping, a classic Mediterranean color scheme, and luxurious interior finishes such as cherry cabinetry, granite counters, and brushed nickel hardware. Estancia’s excellent location in an affluent area with few competitors and a new Sutter Hospital nearby made for an excellent value-add opportunity.
Broll was able to purchase Estancia before it was marketed for sale due to Broll’s reputation and industry relationships. Broll is pleased to continue to have a great relationship with the Seller of Estancia.
 


 

Lucera Apartments (formerly “Dutton Apartments”)
33 Apartments plus a Single Family Home
Santa Rosa, CA
Purchased: March 2013
 

Lucera was everything Broll searches for in a property investment. Lucera was under-managed, had under-market rents, and was in desperate need of a renovation. Lucera has since been updated and transformed through professional property management and a $500,000 capital improvement plan that included a modern color scheme, rebranding, repair of deferred maintenance, the addition of lush landscaping, and an upgrading of apartment interiors. Broll acquired Lucera after it fell out of escrow and the previous owner wanted a Buyer that would perform. Broll met in person with the previous owner, listened to their concerns/needs, and an agreement was quickly reached.
 


 


Cedarwood Apartments
35 Apartments
Santa Rosa, CA
Purchased: August 2012

 

Purchased off-market in the fall of 2012, Broll is proud of its accomplishment in transforming this apartment property originally built as condominiums. Broll quickly saw the potential of Cedarwood based on its location on a main street, large unit sizes with private decks/yards, individual garages, and washer/dryer connections that were hidden by the previous owner in an effort to save water. Broll quickly instilled professional property management, re-tenanted destructive residents, and spent approximately $500,000 repairing deferred maintenance and renovating the property. Renovations included installing new dual-pane windows in all apartments, replacing spacious private decks, modernizing the craftsman color scheme, and upgrading apartment interiors including uncovering washer/dryer connections and adding new machines. Trellises were installed to expand upon the craftsman theme of the property. Cedarwood is now a quiet family property where residents feel proud to call home.
 

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