Description
PROPERTY HIGHLIGHTS Rare unit mix of (13) large 3-Bed/3-Bath units (1,170 SF), (1) detached Studio ADU Completely remodeled apartment homes and major exterior property improvements completed in 2019 Open concept living spaces feature high end finishes Dual master floor plan New windows, upgraded plumbing & electrical On-site parking with 17 carports spaces and 14 open spaces Modernized and drought resistant landscaping 1991 construction and newer roofs Outdoor spaces, ranging from patios and balconies to large yards Near public transportation, dining, shopping, and freeways 8, 67, 52, 125, 94 Quiet street south of the Bostonia neighborhood Residents enjoy a large common area with BBQs INVESTMENT HIGHLIGHTS 2.91% assumable loan fixed through 9/1/2026 In place 5.77% Cap Rate / 12.54 GRM and Proforma 6.03% Cap Rate / 12.09 GRM 6.78% cash-on-cash return and market 7.4% cash-on-cash return before principal paydown $421.26/SF, zero to little deferred maintenance for many years to come ECONOMIC HIGHLIGHTS Wealth preservation and a hedge against inflation Average occupancy rates in this sub-market are 97%-100%
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3BEDS
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N/AACRES
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4BATHS
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01/2 BATHS
School Ratings & Info
Description
PROPERTY HIGHLIGHTS Rare unit mix of (13) large 3-Bed/3-Bath units (1,170 SF), (1) detached Studio ADU Completely remodeled apartment homes and major exterior property improvements completed in 2019 Open concept living spaces feature high end finishes Dual master floor plan New windows, upgraded plumbing & electrical On-site parking with 17 carports spaces and 14 open spaces Modernized and drought resistant landscaping 1991 construction and newer roofs Outdoor spaces, ranging from patios and balconies to large yards Near public transportation, dining, shopping, and freeways 8, 67, 52, 125, 94 Quiet street south of the Bostonia neighborhood Residents enjoy a large common area with BBQs INVESTMENT HIGHLIGHTS 2.91% assumable loan fixed through 9/1/2026 In place 5.77% Cap Rate / 12.54 GRM and Proforma 6.03% Cap Rate / 12.09 GRM 6.78% cash-on-cash return and market 7.4% cash-on-cash return before principal paydown $421.26/SF, zero to little deferred maintenance for many years to come ECONOMIC HIGHLIGHTS Wealth preservation and a hedge against inflation Average occupancy rates in this sub-market are 97%-100%
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