Lenox Apartments

Sold Price

$12,150,000

 

Hold Period

6 Yrs.

 

Total Equity

$1,459,000

 

Total Profit

$7,787,000

 

Year Built

1971

The Lenox is a 190- unit multifamily property located near Augusta University. Providence projected to invest $620K back into the property to increase rent and the property value. Shortly after the transition, tenant issues started to rise, presenting many challenges. Providence immediately acted by bringing a solution to the property. Between strong management and working with local officials, Providence was able to succeed. Our goal to maintain a safe and desirable place for all to live while delivering strong returns was achieved. Overall, The Lenox was a very successful investment.