N St Apartments

The N St Apartments were severely distressed at the time of acquisition in 2012. Pecar Properties was able to purchase the asset through a 14-month legal process with multiple parties. The project was not habitable and had unauthorized occupants upon acquisition that needed to be evicted. After the purchase and eviction process, we completed a major rehabilitation and corrected all of the non-code compliant conditions. Since the rehab and stabilization of this 6 unit building in 2013, the property has remained fully leased.