VF Developments Completes Renovation of LA Community
Both the interior and exterior design of the property, built in 2000 in the Victor Heights neighborhood, have been overhauled.
920 Everett Street. Image courtesy of VF Developments
VF Developments is reintroducing a six-unit community in Los Angeles’ Victor Heights neighborhood after completing major renovations. The company and a private investor jointly acquired the property, 920 Everett, from an undisclosed seller in January 2020.
California-based VF Developments planned repositioning and capital improvements following the acquisition of the two-story walk-up, which was built in 2000. Renovations focused on an exterior redesign emphasizing modern architecture. Exterior improvements included a new wood façade, fresh paint and new landscaping, with bright white rocks and succulents. VF Developments’ renovations plans also called for restoring and upgrading the interior finishes, which included renovated kitchens and bathrooms.
Post-renovation, the two-bedroom units offer keyless entry, quartz countertops and stainless steel appliances, as well as new bathtubs and glass shower doors. The community also offers residents 10 on-site parking spaces. Located near downtown Los Angeles, residents will be down the street from Everett Park and near area attractions like the Dodger Stadium, Chinatown and Elysian Park.
Victoria Vu, managing partner of VF Developments, said in prepared remarks that the company was excited to provide additional affordable housing to the city.
Earlier this month, VF Developments completed major renovations on another six-unit multifamily community elsewhere in Los Angeles. The Garth, which is located at 2034 S Garth St. and offers studio and three-bedroom units, underwent similar interior and exterior renovations.
Since 2015, the company has acquired more than $69 million in multifamily properties, totaling 39 communities and 242 units. VF Developments mostly focuses on Los Angeles and Orange County, where it acquires, renovates and manages communities, with a focus on redeveloping them into Class A properties. According to the company, VF Developments targets underperforming and mismanaged communities in gentrifying areas of Los Angeles and Orange County.
