PRIDE OF OWNERSHIP -- SINGLE STORY GATED COMPLEX LOCATED IN A RESIDENTIAL NEIGHBORHOOD. VIRTUALLY NO DEFERRED MAINTENANCE. The property sits on over an acre of land with lush landscaping and has a great unit mix of both 1 & 2 bedroom units. The property is 100% occupied (with a waiting list) and was just painted in Nov 2011. The (2) gates are operated electronically with each tenant having their own remote control to enter / exit the premises. The property has COPPER PLUMBING. Ample parking in the rear of the complex. Seller is motivated. The Cap Rate on actuals is 6.64%. This is a great, low maintenance turnkey investment giving an investor a healthy cash on cash return of about 8% (+/-$100,000/year). The property is very stable with virtually no vacancy over the last few years. BUYER ONLY NEEDS 29% DOWN PAYMENT!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
