Description
Seven buildings with 56 residential units. (28)1-bedroom units and (28)2-bedroom units. Five of seven roofs replaced in recent years. All new electrical service in each apartment with each unit separately metered. Two retaining walls installed. Onsite laundry present. 43% of tenants in place more than four years. Rents have not been adjusted to market rates by current ownership. Significant upside in potential gross rents at 2023 HUD FMR plus ability to decrease operating costs can yield 9.08% proforma capitalization rate. Assumable Freddie Mac financing at 4.7%.
Location
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Listing Office: Keller Williams Grt Cleve NE