46 units, each unit 2 bd / 1.5 bth townhome. All buildings are brick.
100% occupied, with waiting list
units are renovated (except for 5) seller will renovate or escrow for renovation –
stable, long term tenants. In case of vacancy, tenants have new occupants. Virtually no advertising.
nice complex with grassy common areas and play area
NOI $236,331 – 10.27 cap rate
owner is selling to acquire a 200 unit complex nearby – he is willing to continue management.
rent range is 650 – 725. These are below market. Owner has kept rent lower rather then have a constant turnover
This is a rare, mid sized, well stabilized complex with a sense of community. complex is “hidden” and off by itself as it does
not adjoin other complexes, etc.
This is an off market listing. Information released based on:
1. Proof of funds letter
2. Vetting of buyer