Multi-family Value Add Investment Opportunity

• ~50% mark-to-market rental upside

• 41 unit apartment building on 1.87 Acres | 81,457 SF

• Going in cap of 6.5%

Side of Building
Front Facade
Parking Lot
Street View

Current Zoning: RM-1
Total Units: 41
Suite Mix:

3 x Bachelor | 450 SF units
13 x 1 bed | 548 SF units
25 x 2 bed | 1,059 SF units

Net Rentable Area: 34,949 SF
Average Unit Size: 852 SF
Parking: 61 surface lots
Average Rent: $1.09/SF
Net Operating Income: ~$232,000 (Stabilized Expenses)
Cap Rate: 6.5

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