Bird Lane Apartments
El Cielo Apartments
El Cielo Apartments was acquired in May of 2018 through an off market transaction. DLS began a comprehensive capital improvement program over the ensuing months which culminated in a full lease up and positioning of the property for sale. Upon a sale of the property in June 2019, we achieved a total ROI of 21%.
Upon acquisition, the property's rents were approximately 40% under market, with serious deferred maintenance. We fully repositioned the property and leased it up within 11 months. Upon sale in December 2018, through our aggressive repositioning efforts, we achieved a total ROI of 47%.