• Affordable Upstate

Renovating Multifamily Exteriors

Updated: Aug 4

real estate multifamily
Parkins Ridge Townhomes | Mid-Renovation

When Affordable Upstate purchased Parkins Ridge with the Greenville Housing Fund in July of 2020, the exterior of the property left much to be desired. The original wood siding had deteriorated, paint was peeling off front doors, trash was overflowing out of the open-air dumpster, and the mailboxes were dingy and rusted.

By June of 2021, Affordable Upstate and the Greenville Housing Fund had completed their targeted exterior Capex renovations to bring the community back to life. Scroll through the before and after photos below to see the property transformation.

Building Package

Updates include: new siding, low maintenance vinyl wrapped soffits, new gutters, parking lot seal coat, dumpster enclosure, newly designed property signage (powered by solar), and landscaping

As a value-add real estate multifamily investor, there are three main areas of capital expenditure (CapEx): mechanical, interior, and exterior renovations. Each of these is equally important: mechanical improvements address structural issues and deferred maintenance, interior renovations improve the quality of the actual units and exterior renovations increase curb appeal and the overall ‘feel’ of the property.

Many value-add real estate multifamily investors focus all of their energy on improving the interior of units and largely ignore the exterior. This grossly limits the property's potential--the exterior is the first thing that a potential tenant sees when they tour a unit. If the dumpsters are overflowing, the buildings are dirty and the roofs are sagging, this will overshadow the thousands of dollars spent renovating the unit interior. Continue reading to see the key details that we focused on:

Entrance & Signage Upfit

We created a more inviting entrance by removing the blocked-chain link fence, pressure-washed the sign, modernized the landscaping with mulch and ornamental grass, and planted new foliage.

Dumpster Enclosure

Not only were the open-air dumpsters an eyesore, but their visibility caused frequent illegal dumping by non-residents. To combat this, we built a locking louvered dumpster enclosure and assigned each resident their own personal access code. Though large, the 10’ height prevents individuals from throwing their garbage over while the louvered design allows fresh air into the enclosure, which helps combat garbage odor.

Mailbox Station

By refinishing the mailboxes and adding a shade sail, we gave the mailbox station a vibrant new look.

Modern Unit Numbers & Lights

By replacing the dated unit lights and numbers we were able to modernize the overall feel of the complex.

Front Door Rehab

We stripped and repainted the front doors and installed storm doors to each unit.

Building Numbering & Solar Lights

(Placemaking) We designed custom community-specific signage for each building (yellow) and added solar lights to increase visibility at night. With the larger signs and new green lighting, tenants and guests can easily locate their units.

Not only do we strive to make our properties more attractive to potential tenants while investing in multifamily, but to foster a community that residents are proud to call home. Since we've started improving the exterior of Parkins Ridge, we've noticed that tenants are taking better care of the grounds and some have even added their own decor to their front porches.

"A community of pride is a community of opportunity"

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