N St Apartments

Acquired in 2012, the N Street Apartments were severely distressed at the time of purchase. Pecar Properties secured the asset through a fourteen-month legal process involving multiple parties. The building was uninhabitable and occupied without authorization, requiring both a full possession process and a complete rehabilitation.

Following acquisition, we executed a gut renovation that brought the property into full code compliance. Since stabilization in 2013, this two-unit building has remained fully leased.