Built prior to the Great Depression, The Maple Apartments is a fine example of Windsor’s historical Prohibition Era construction. With its fine brick facade, sandstone lintels, and cast columns, The Maple Apartment strikes an impressive profile on Ouellette Street. Leaded glass doors, open staircases and generous hallways welcome residents and guests into a sumptuous past. Large bright open concept suites with plenty of windows, hardwood floors, and up-dated modern amenities make living at The Maples simple, elegant and convenient.
When acquired in July 2012, along with the adjacent duplex, both properties were in need of maintenance and re-capitalization. A combined vacancy rate of 35%, significant collections issues and generally poor management had eroded the financial performance to the point where Rho-Orion Investments was able to acquire both properties for a combined price of $525,000; well below market value for a performing business.
After 22 “lipstick” renovations, a new boiler, refurbished common areas, security cameras, mailboxes, fire safety equipment and most importantly, an experienced, professional manager, the property and suites look great, and vacancies have been reduced.