This property just realized a 33% increase in trailing 12 month operating income and is currently operating at 98% occupancy with NOI just under 300k. That's a solid 6% cap rate with all the capital expenses in the rear-view mirror. 47 units recently remodeled. All you have to do is sit back and collect the rent. Additional Property Info... 1 yr old Atlas IR composite roof. 100 +/- Tenant/Visitor off street parking. Dedicated laundry in each building. Only 10 units remain on subsidized rent. 12 units mo/mo. Now operating at 96% market rate. Located on high traffic bus route. Electricity metered per unit, water/gas/sewer on fee schedule. Property Manager Notes... The current financial profile reflects sustainable gains in NOI as a direct result from correcting previously deferred capital expenditures and new management structures.
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