--Stable Investment with REAL, Value Add Growth Potential--See OM for path to $360K gross annual inc from current $247K. This 12 Unit Building has an excellent unit mix of 6, One Bedrooms and 6, Two Bedrooms with 12+ Car Parking. The well-designed floor plans are spacious and feature excellent exposure for natural light. The kitchens all have designated formal dining areas, spacious living rooms and bedrooms, and dressing areas with additional closets outside of bathrooms making the apartments more desirable than others. The Real value add income growth can be obtained through Operating and Maintenance Pass through, the already completed Soft Story retrofit work's cost Pass through, and Additional Dwelling Units potential that could result in an additional 5 Studio apartments within the building envelope, that can eliminate the need for a 311 Neighborhood Notification. Existing rents on the fully occupied apartments prevent downside risk. Updside potential! Less than $325K/unit!
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