Well-maintained apartment complex built in 1981. Excellent rental area with few vacancies, tremendous visibility from Greenway Rd. Great traffic count. Unit mix is (12) 1bed/1bath rented at $400/mo and (16) 2bed/1bath rented at $500/mo. Individually metered for Elec. Covered parking, coin-op laundry. Units have tile throughout! New Roof on all 3 Buildings, as well as 5+ New A/C Units. For the Investor: This property is projected to generate total rents of $153,600 less 10% vacancy of -$15,360 per year equals $138,240 effective rental income. $4,800 in collectible income then equals $143,040 gross operating income. Then after projected expenses of $48,160 the amount an investor should pocket is $94,880 per year based on pro forma. This is a 7.91% CAP Rate.
Bruce Kipling of Coldwell Banker Premier Realty is licensed in the Province of British Columbia. This featured listing is courtesy of Gerchick Real Estate of Phoenix Arizona, and is authorized through a reciprocal referral partnership agreement with a licensed realtor in the State of Arizona.
Please note that unless otherwise indicated, all prices are shown in US dollars!
Listing information last updated on February 22, 2014 at 07:07 PM (UTC)
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