Marketing package available upon request. 100% occupancy and collections. CAP Rate: 4.01% Current, 4.52% Proforma. GIM: 16.43 Current, 15.11 Proforma. $33,368 monthly gross income w/upside. Cypress Place Apartments is a wonderful apartment complex with 14 exceptionally large units. It has 6 one-bed/one-bath units each with 1 patio/balcony and 8 two-bed/one-bath units each with 2 patios/balconies. All units have covered parking and a large storage unit. Exceptionally well maintained by long term owner who is only the 2nd owner of the property. Property has copper plumbing and all dual pane windows and current ownership has spent over $370,000 on capital expenditures including complete renovation of 8 units, new electrical panels, roof and gutter replacement, new concrete parking area, exterior paint, and gated parking. Opportunity to add further value and increase income by continuing the repositioning of the property to the preferences of Silicon Valley technology employees.
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