Address
1702 West Boulevard

Los Angeles, CA

NEXT PROPERTY

The Casa Del West apartments were acquired in 1998. Originally constructed in 1928, upon acquisition the property and common areas were in a major state of neglect. The property is bordered on two sides by Lafayette Square, a gated community, which had once been one of L.A.'s most fashionable neighborhoods until the entire area precipitously declined in the 1960s and continued as a high crime and drug area until the mid 90s. In the last four years Lafayette Square and environs have experienced a dramatic turnaround. Most of the estates have been fully restored and major new development and rehab dollars have been invested consistent with the work we performed upon Casa Del West. The neighborhood upgrade has accelerated to such an extent that patent pockets of crime, vandalism, and graffiti have been eliminated.

Renovation Program

We performed a complete renovation of the nine two-story duplex buildings and the common areas at Casa Del West. We applied concrete to 80% of the parking area which accommodates 29 parking spaces, restored the concrete walkways in the common area, applied an attractive brick colored stamped concrete treatment at the entry driveway. We installed a security pedestrian gate and traffic gate at the entrance to the development. We installed a security intercom access system at the entrance gate. We constructed a curbed planter at the entrance, and installed a sprinkler system throughout. All areas were sodded except for the perimeter of the buildings and the main entry and adjacent individual entries where lush landscaping was added. Security wood fences were constructed in all open areas around the perimeter of the building and also used to frame patio areas in the back entrance of all of the buildings. New security lighting was added to the common areas and new entrance lighting was added to the front door of each unit.

A comprehensive renovation was performed upon each unit. Each building was reroofed. All window frames and door frames were removed and new metal window frames and windows and solid core doors were installed along with an additional metal screen entry door on each unit. All exterior stucco was patched and repaired. All exterior walls and ceilings were replastered. New kitchen cabinets and counters were installed in ten units. New sinks, hot water heaters, and stoves were installed in each kitchen. New wall mounted heaters and ceiling fans were installed in each living room. New sinks and toilets were installed in each bathroom. New vinyl tile flooring was added to the entry foyer, bathroom, and kitchen. New carpet was installed throughout the remainder of the apartment. All electrical meters were relocated to the outside of the units and a new electrical panel box was installed for common area lighting. All units were converted from fuses to circuit breakers, and every unit was rewired. On a phased basis each unit's supply lines were replumbed. By the end of July 2003, all will have been completed.

The upgrade of this property and the neighborhood has impacted the demand and prices of our units. The property has been fully leased since 2002, with occasional turnovers filled within a 30 day period. Rents have increased from $450 in 1998 to $875 as of July 2003.