High cap rate investment property which has been nearly completely renovated with a huge opportunity to increase NOI. Clean property always 100% occupied that has three separate structures which form a U shape, all with private yards. Nine 2 bed 1 bath units and one 3 bed 1.5 bath unit that is in an area with exploding demand, in central close to the U of A. Capital expenditures for upgrading in the prior year totaled nearly $100,000 and include all new electrical, roofs, AC/Heater Units, painting and plumbing repairs. Six of the units (35,37,45,47,49,53) have been completely upgraded including new flooring, paint, kitchen & bathroom renovations. Most units are well below market prices while with either mainly month to month leases or else leases that are soon to end.
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