Property Details
Year Built: 1963
Units: 32
Price / Unit: $156,250
Price / SqFt: $233.14
CAP: 3.83%
GRM: 14.58
Executive Summary
- Well-Maintained Asset with Tremendous Upside; Current Rents are Below Market
- Low Price Per Unit of $159,375; Pro Forma GRM of 9.15
- Strong Unit Mix Including Singles, One Bedrooms, and Two Bedrooms
- Current Loss to Lease is 38%; Pro Forma Cap Rate of 7.53%
- Copper Plumbing, and Individual Water Heaters
- Low Utilities Due to Only Electric Appliances
- 32 Parking Spaces for 32 Total Units Plus 6 Additional Spaces
