Rho Orion Investments Inc. is pleased to announce their acquisition of 46 units at 1307/11/15 Pelletier and 1340 Tecumseh Rd. W. Purchased with our investment partners for $1,200.000.00 (just over $26k per suite) these four buildings on the West side of Windsor are close to the downtown and the University of Windsor campus. Rho Orion Investments was able to obtain short term beneficial financing to complete the purchase and fund the improvements. The newly renamed, Sonnet Apartments is located on 1.35 acres with plenty of parking, generous green spaces and with views of the Windsor and Detroit skylines. This project was the perfect opportunity to create new value through:
1. Improving energy efficiency and reducing costs,
2. Stratification and unlocking future value,
3. Renovating to existing vacancies to near condo quality,
4. Increasing rents and improving the income.
These simple tools are ones that we have used before and are confident that we can reproduce our good results elsewhere at this location.
To date we have hired our on-site managerial couple, made an application to the City of Windsor for stratification, surveyed the site, completed an engineer’s
energy audit, renovated four units and replaced all the 1972 sashless windows with new vinyl high efficiency double paned windows.