Apartment Look

A Cedar Ridge Apartments tenant shows a respirator she claims she sometimes needs due to alleged mold issues at the south Sacramento apartment complex . Code Enforcement is continuing to inspect the complex to determine if there are violations. PHOTO BY MICHAEL MOTT Nancy Avalos watched as her 5- and 8-year-old daughters danced and chased each other. Their laughter filled the living room. “My daughters don’t want to move out,” Avalos said in Spanish. Her voice broke. “I feel like I’ve let them down.” Avalos moved to Cedar Ridge Apartments six years ago. After sharing a living room of an apartment together, the single mother wanted to give her three daughters room to play and moved to a place they could call their own. But now the family is moving out of its two- bedroom apartment , after Avalos’ monthly rent rose from $802 to $1,086. For Avalos and her neighbors, sharp rent and utility bill increases hit the past two months as the property owner, Torrance- based Cedar Ridge Apa...

Mainstreet Equity (OTC:OTC:MEQYF) is an under-the-radar residential apartment owner/operator in Western Canada . Despite a market cap of $325m (all figures Canadian ), it often sees volume of less than 1000 shares a day on the TSX where it trades under the MEQ ticker. The recent investor presentation (July 2017) gives a brief snapshot of the properties Mainstreet controls . It's important to note that Mainstreet is well away from the frothier markets in Canadian real estate , both geographically and in terms of price point. The average apartment it owns is valued at just marginally more than $100k with an average monthly rent of just $864. These are solidly middle class , leaning lower middle class , properties. The company is focused on rolling up what they view as smaller, underperforming buildings, often ones that have fallen into significant disrepair, are being managed by inexperienced and/or unprofessional owners, and giving them a makeover, with some recent examples fr...