Wasatch Properties Works with the CMFA on Acquisition Rehabilitation of a Senior Apartment Project in Spring Valley, CA

Wasatch Properties’ mission is to acquire undervalued properties, add value through rehabilitation and improvements and provide exemplary service to their residents, coworkers, business partners, suppliers and lenders. Wasatch recently worked with the CMFA on the acquisition and rehabilitation of the Peppertree Apartments project in the Spring Valley area of San Diego, CA. 

The Peppertree Apartments is an existing market rate project with 103 units that will be converted to low-income housing units in the Spring Valley area of San Diego County. The Project consists of 88 one-bedroom and 15 two-bedroom units with 1 manager’s unit. A total of 11 units will be set aside for those seniors with incomes of 50% of area median income and the remaining 92 units will be available to seniors with incomes of 60% of the area median income. The site is located within a mixed-use urban neighborhood consisting of commercial, retail, and residential uses.  Planned renovations will include new landscaping, energy efficient windows, landscaped common areas, upgraded community center, 24-hour emergency maintenance, and upgraded buildings systems. Residents will enjoy new flooring, kitchen cabinets, hardware, countertops and appliances in each unit.

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