This 80-unit multifamily investment is currently near 100% occupied and produces a cap rate of 6% on net operating income of 495,000. There are currently 59 1 bedroom apartments, 18 2 bedroom apartments, and 3 3 bedroom apartments. There are 10 buildings ranging from 3 units in a building up to 16 units in a building on 9 different tax tickets. Current rental rates in the market and within the complex have steadily appreciated over the last 5 years while keeping a low vacancy rate. The location of these apartments give tenants great access to employment, shopping, entertainment and local dining. With limited availability of market rate apartments in the city, these apartments make a great investment for any investor looking to maximize there return on investment. The current landlord provides tenants with many great benefits including a laundromat, trash dumpsters, snow removal, lawn care and paid water and sewer. Don't miss out on this rare opportunity to own an investment for the future.
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High Residential Turnover
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