Property details
Apartments, Southwest Region
Property Description
Located just 30 minutes east of a major City on a Interstate Highway. Complex has had the same owners since new in 1976. The daughter of the owners took over the complex in 2004 and has proceeded to completely renovate the entire complex bringing it up to its current 93% occupancy. The property is situated on 6 rolling acres and includes a newly constructed Office and Shop. There is opportunity for further rental increases, and the mix of units is perfect for the needs of the community
Images
Highlights
- Status:
- Available
- Price:
- $1,450,000
- PSF:
- $37
- Cap Rate:
- 9.30%
- Annual Rent:
- $135,153
- Rent Increases:
- None
Property Information
- Building Size:
- 39,300 sq.ft.
- Property Type:
- Apartments
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 50
- Year Built:
- 1976
- Land Area:
- 6.00 acres
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.