Bungalownoun

[bun·​ga·​low]

  1. A single story home, eliminating the worry of neighbors above you.
  2. Luxury, pet-friendly home for rent with a private backyard.
  3.  Home without the Hassle.

Why Bungalows™?

The Bungalows™ are a unique response to new rental market trends

While evaluating new opportunities for real estate development, Cavan Companies conducted extensive market research and determined that changes in consumer housing preferences provide an optimal outlook for the multi-family space.   

  • More would-be homebuyers are renting.
  • Renters want options outside of urban multi-story apartments.
  • Pet owners prioritize pet-friendly single-level floorplans and gated yards.
  • As home ownership declines, more people are renting for longer periods of time.
  • In many markets, the cost of renting is less expensive than the cost of ownership.

The Bungalows™ provide options for Millennials, Seniors, Singles, and Families

  • The Bungalows provide a perfect solution to Millennials getting married and starting their families.
  • The Bungalows™, in suburban neighborhoods, accommodate Millennials’ desire to move out of urban high-rise apartments
  • The Bungalowsare affordable to millennials who can’t purchase a single-family home.  
  • The Bungalows offer flexibility and renting value that Millennials seek.    
  • The Bungalows™ allow Seniors to downsize, cash out their equity, or avoid the hassle of home ownership.   
  • The Bungalows are perfect for singles who want a secure home within gated community.
  • Families thrive in the two- and three-bedroom Bungalows with private backyards in a secure community with family friendly amenities. 
  • The Bungalows are designed to capture a wide market demographic at premium rental rates.

Farmhouse clubhouse—gathering center for the Bungalows™ community

The Bungalows™ deliver features and amenities that traditional apartments can’t

  • The Bungalows™ feature ten-foot ceilings which give a comforting sense a spaciousness.  
  • The large windows on all exterior walls permit a flood of natural, uplifting daylight.
  • The private backyard is ideal for pet owners, small children, or individuals who enjoy Arizona’s beautiful climate and sunsets.
  • The gated community offers security and safety to residents.
  • Common areas provide residents with a welcoming clubhouse, glistening pools, fire pits, barbecue grills, dog washing stations, play areas and more
  • The single-level floor plans make access to the Bungalows easy and quick.   

Who wouldn’t want to live in a Bungalow?

The Bungalows™ provide strong investment opportunities

Because of the distinct and popular features of The Bungalows, the Bungalow projects provide strong investment opportunities.  

  • Urban multi-story apartment construction is a highly saturated market with high barriers to entry and stiff competition.
  • The Bungalows are located in popular suburban areas and are in a class by themselves.  
  • Tenants have stated they will drive up to 10 extra miles to live in a Bungalow.

The popularity of The Bungalows has resulted in rapid lease-up without concessions, high occupancy (95%+), stable tenants, low maintenance costs, and strong operating revenues.   

So, Why Bungalows?  

For renters, The Bungalows™ provide a premium option – combining all the benefits of a home with all the benefits of an apartment.  Offering the privacy and features of a single-family home, the Bungalows™ have been developed to satisfy the high demand of renters who prefer the flexibility of renting with the retreat of homeownership.

When it comes to rental properties, The Bungalows™ are the only unique upscale rental product that provide consumers a “Home without the Hassle”.

“It’s perfect! Single level with a yard, spaciously designed with ample storage. And a lot more quiet and neighborly than an apartment complex.”

-Current Resident at Bungalows on Olive