8 unit apartment in fantastic downtown Sumner location. The exterior has been extensively remodeled with new roof, paint, landscaping and windows. The building has undergone a major systems update of new wiring, plumbing and electrical service. 2 of the 8 units have been remodeled with high end finishes with washer and dryer install. There is rental upside in all 8 units if investor chooses not to do additional remodeling work, but there is a major value add opportunity to remodel the 6 remaining units. Current low rent is $925, and the remodeled units are renting starting at $1,300. Rents in Sumner have risen at an annualized rate of 10% throughout 2020.
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