16 unit apartment project. (2) duplexes, (2) triplexes and (1) six unit building. Seller has refurbished approx. 6 of the units recently. Covered patio's and decks, some covered parking and a few units have fenced back yards for privacy. This project offers an investor the opportunity to increase cash flows through some interior renovations. Budgeting $5,000 to $8,000 per unit should achieve a stabilized cap rate of 7.4% with a cash on cash return of 10.88% depending upon the financing obtained.
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