Purchased in March 2022 1221 East 1st Street is a 16-unit multifamily property in Long Beach, California. Quail Canyon Venture Partners successfully repositioned by implementing a comprehensive value-add strategy—upgrading interiors, modernizing amenities, and streamlining operations. Additionally, 1 new unit was entitled and constructed at the asset in the former laundry/storage rooms. This approach enhanced tenant satisfaction, boosted occupancy rates, and optimized net operating income (NOI) while capitalizing on Long Beach’s growing demand for quality housing.
