The subject property consists of 10 large studios and the total building size is 2,535 SF, well situated on a large 11,969 SF lot. All apartments are leased and in overall excellent condition. Most of the units have been renovated last year including new kitchens and bathrooms, ceramic flooring, paint, impact windows, newer AC, and more.
The apartments are leased between $596.00-$895.00 per month, grossing $97,800 per year. After all expenses, this property is netting $60,300 per year providing an investor with a 5.00% actual cap rate.
Seller financing available with flexible terms, subject to buyers' qualifications. Can be sold with A10912436 and A10912458 creating a 28 unit portfolio. All showings are by appointment only.