01/29/2025
Maximizing Returns: How Mountain Vista Mini Storage Contributed to Fund IV’s Record Q4 2024 Cash Flow
Fund IV’s record-breaking cash flow performance in Q4 2024 was driven by our value-add strategy across multiple properties. Mountain Vista Mini Storage is just one example of how our value-add approach is delivering results across the portfolio.
Property Overview
Located in Henderson, NV, Mountain Vista Mini Storage is a 158-site facility with a diverse mix of self-storage, industrial storage, and uncovered parking. When acquired, the property had been mom-and-pop owned for decades, presenting significant value-add opportunities. At the time of acquisition, the physical occupancy was stated at 81.5%, while the economic occupancy was just 34.5%.
Strategic Improvements & Value-Add Execution
Within the first year of ownership, our team executed a comprehensive strategy that transformed the property’s curb appeal and performance. Key initiatives included:
Rent Optimization: Increased rental rates by more than 100%, aligning them with market levels.
Discount Removal: Phased out long-standing friends-and-family discounts that had suppressed revenue.
Operational Cleanup: Removed junk and abandoned items to enhance the property’s curb appeal and functionality.
Infrastructure Enhancements:
Completed a paving project to improve access and usability.
Installed a new gate system for secure, controlled access.
Added fencing around the perimeter to enhance security
Revenue Expansion:
Added 24 uncovered parking spaces that was once occupied by junk to increase rentable space.
Renovated the on-site apartment, which is now tenant-occupied at $1,500 per month.
Facility Upgrades:
Installed new signage for improved visibility.
Upgraded doors, metalwork, paint, and electrical to meet higher tenant demand.
Reduced delinquencies and improved collections.
Marketing Strategy Implementation:
Launched our marketing strategy to increase visibility and attract new tenants, as the property previously had no marketing presence.
Financial Impact
The implementation of these strategic enhancements significantly increased the property’s economic performance, driving higher revenue and contributing to the overall cash flow growth within Fund IV. Economic occupancy has now increased to 67%, reflecting the success of our efforts to eliminate high delinquency and optimize rental income.
Mountain Vista Mini Storage is a testament to the effectiveness of our disciplined asset management approach and value-add execution.
As we continue to optimize and enhance properties across our portfolio, Mountain Vista is just one example of how our strategy is delivering tangible results. Stay tuned for more highlights on the assets that are fueling Fund IV’s success.
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