Description
Seven buildings with 56 residential units. (28)1-bedroom units and (28)2-bedroom units. Five of seven roofs replaced in recent years. All new electrical service in each apartment with each unit separately metered. Two retaining walls installed. Onsite laundry present. 43% of tenants in place more than four years. Rents have not been adjusted to market rates by current ownership. Significant upside in potential gross rents at 2023 HUD FMR plus ability to decrease operating costs can yield 9.08% proforma capitalization rate. Assumable Freddie Mac financing at 4.7%.
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0BEDS
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2.93ACRES
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0BATHS
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01/2 BATHS
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38,143SQFT
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$91$/SQFT
School Ratings & Info
Listing information © 2023 YES-MLS.
Description
Seven buildings with 56 residential units. (28)1-bedroom units and (28)2-bedroom units. Five of seven roofs replaced in recent years. All new electrical service in each apartment with each unit separately metered. Two retaining walls installed. Onsite laundry present. 43% of tenants in place more than four years. Rents have not been adjusted to market rates by current ownership. Significant upside in potential gross rents at 2023 HUD FMR plus ability to decrease operating costs can yield 9.08% proforma capitalization rate. Assumable Freddie Mac financing at 4.7%.
Listing information © 2023 YES-MLS. All rights reserved.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than Jose Medina and Associates | Keller Williams Legacy Group Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2023-03-30T00:08:08.877.