Apartments For Sale
6,800 Sq Ft
Completely renovated in 2015. New kitchens with stainless steel and granite, new bathrooms with granite, new upgraded tile throughout every room, landscaping, paint (inside and out), windows, AC's, hot water heaters, pavers and sold fully furnished. Extremely nice building in a very nice neighborhood.
Long-term corporate tenant who renewed for five years in October 2018 thru October 2023. No vacancies, bad debt, evictions or need to rent out a unit. Thus, no need for a management company. Just an occasional handyman. The lease in for 5 years (10/23) has 3% annual increases built in. The owner is only responsible for taxes, insurance, lawn and maintenance. NOI is $169,702 which is a 9.4% cap rate.