Smart development of this 8 unit property. 2 side by side 60's ranchettes. Sleek, modern, efficient 1 bedroom interiors, new master keyed locks, new individual air conditioning/ventilation units with dedicated electric service, new electric meter box and drop service (on Melrose bulding), new vinyl siding on gable ends, new parking lot, new decorative steel link fencing, new landscaping with native rock and evergreen plants, alley graded and filled, dusk to dawn motion sensored exterior lights, new screen doors installed. All work completed by licensed contractors and permitted by University City. Currently 100% occupied with rents at $475 each. Great turn-key investment for the savvy investor. See attached spreadsheet for cap rate, debt service, and ROI. Owner currently paying for hot water. On site coin-op laundry. Each unit has its own entry and address, two tax IDs (17J621934 & 17J621945)
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