El Monte Storage
El Monte, CA
A Value-Add Managed Property
A Case Study
- Property Address: 11310 Stewart St. El Monte, CA 91731
- Square Footage: 121,000 Rentable square feet on a 2.1 acre lot
- Number of Units: 1213 storage units
The Principals of Frontera Real Estate took over management of El Monte storage in May of 2013. The property had struggled for occupancy since it was built in 2007, and never operated above 60% occupancy, where it had been for over 12 months. The property was in foreclosure and the market was considered “maxed out” by many industry professionals. In the first 2 years under our management, the property’s income increased by over 50%, and occupancy was up by over 28 percentage points.
Upon takeover, our team immediately recognized a need for a stronger online presence. The property also suffered from high delinquency and an inefficient unit mix. Many units were reconfigured to make a more desirable unit mix and help to boost both revenue and occupancy. Our management team also cracked down on delinquent units and reduced the properties delinquency by well over 50%.
Our team identified, recommended, and oversaw several capital improvements including an updated security system, a complete LED retrofit, a change to draught resistant landscaping, and a general cleanup of the office. This has led to a more secure property, reduced operating costs, and a better customer experience which has in turn led to increased merchandise sales.
This property is now maintaining stabilized occupancy rates and continuing to push rents with strong year over year revenue growth.