Bower Village

Nestled in a serene, wooded setting, Bower Village features a diverse mix of one-, two-, and three-bedroom apartment homes catering to a broad renter demographic. Recent common area upgrades, along with interior renovations to select units, have introduced a modern, attractive aesthetic that enhances overall curb appeal and resident satisfaction. 

Residents benefit from a well-rounded amenity package, including a dog park, swimming pool, and BBQ area, all of which foster a welcoming, community-oriented environment. This combination of upgraded finishes, functional floor plans, and lifestyle amenities positions the asset competitively within its submarket and supports durable renter demand and long-term value for investors.  

Throughout its ownership history, Bower Village has benefited from several targeted upgrades, including the renovation of 141 apartment homes to a relatively consistent scope. These improvements create a clear roadmap for a new investor: either continue the existing value-add program across the remaining 29 classic and 91 partially renovated homes or reposition the interiors to a higher-end, luxury finish to drive stronger rent premiums. A premium interior package could include hard-surface countertops, undermount sinks, and upgraded trim throughout the home. 

The property also offers several additional levers for value creation through strategic enhancements. All 198 homes are equipped with fireplaces, presenting an immediate opportunity to modernize these features and upgrade mantels to better align with current renter preferences. Competitive properties in the market have successfully implemented similar improvements and achieved meaningful rental lifts as a result. 

Further, select ground-floor homes currently benefit from enclosed backyards off the patios, which command a demonstrated rent premium. This proven demand supports the case for expanding and improving upon this feature to additional units, providing a straightforward path for new ownership to capture incremental income. 

The asset also presents opportunities for immediate community and common area upgrades. The underutilized outdoor space adjacent to the pool could be activated with a new outdoor barbecue or social area, enhancing resident experience and marketability. Additional exterior improvements—such as fresh paint and select curb appeal upgrades—could further elevate the overall presentation of the community and support stronger rent growth.