FULLY OCCUPIED, FULLY REMODELED, 26 UNIT COMPLEX WITH OVER A YEAR OF PROVEN PERFORMANCE! The owners completely rebuilt every unit from the studs up - Brand new HVAC, water heaters, appliances, everything. Units are all 1bed, 1 bath, 530sqft. 24 of 26 units are current at market rent of $575, 2 of 26 at $550. Property has boasted a 96%+ occupancy over the past 12months+; a truly turnkey investment! Tenants love the safety of full perimeter security fence and gate, and enjoy relaxing & grilling around the central Pergola. *YOU ARE RESPONSIBLE TO DO YOUR OWN DUE DILIGENCE - THE FOLLOWING ARE ESTIMATES* Gross Potential $181,158 ; Vacancy/Concessions (4.5%) (-8,172$) ; Fees (+$6,000) ; Mgmt (7%) (-$12,110) ; Insurance (-$8,190) ; Taxes (-$24,500) ; Utilities (-$9,672) ; All Other Operating Expenses (-$13,260) ;;; Total Expenses (-$67,732) (37.0%). Est. NET OPERATING INCOME $111,274 - est. CAP 7.95%
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