Listing courtesy of Lee & Associates Commercial RE. Selling Office: Lee & Associates Commercial RE.
Fully renovated 7-unit apartment building offering all one-bedroom one-bath units. Over $265,000 in completed renovation makes Whistwood a turnkey, low-maintenance, cash-flow investment with 21% upside in income through nominal rent increases and RUBS implementation. The opportunity to acquire 7 units at a 5.39% CAP rate and take it to a 6.40% provides a rare opportunity in today's ultra-competetive multifamily marketplace. Additionally, a qualified buyer may assume the current loan with a down payment of approximately 25%. A new interest-only loan has the potential to increase cash-flow to nearly $40K/yr+.