SOPHIA

SUMMARY
Sophia Apartments, FKA Canyon Club, is a very well maintained 240 unit property in the Greenspoint sub- market, which had the second best rent growth in Houston in 2020. Elevate acquired Canyon Club in 2021 is currently executing our value add strategy by improving inefficiencies, and completing interior and exterior improvements.

PROPERTY OVERVIEW
- 240 Units
- Purchase Price: $18.6MM
- Year of Construction: 1979
- Class C Property


BUSINESS PLAN
- Business Plan
- Renovate all 240–units and lease these units out at premium rates
- Convert 31 1-bedroom units to 2-bedroom units
- Implement water conservation program to every unit