Strong cashflow 34-unit complex. Hitting the 1% Rule with over $20k/mo in rents and $3500/mo in cashflow with value-add potential on some units. GRP is $23k with updated and stabilized units. 15,023 total sq ft 34-unit complex. All 1 bed apartments. On-site laundry, owner pays water, sewer, trash, and common area electric. New HVACs on almost half of units, many units fully remodeled. Rents average $591/unit, range from $475 to $650/mo for updated units. After finishing updating units and bringing rents to market, GRP is $22,950/mo.
