281 South Apartments and RV
Mixed Unit Property with Room for Expansion
Marketing description
This property offers a diverse mix of units for the market to take advantage of for housing. The 3/2 is the largest unit on one end. Four 1 bed 1 bath units sit in in the middle, and a 2/1 anchors the other side. The Studio is off the storage/garage building to the right side of the property. There are three water meters and 2 electrical services on site to you have the ability to expand as well. New units, a Mobile or RV Spots are all possible for a value add opportunity. There was a single wide Mobile on property before that was removed 2 years ago. Not individually metered so rents include Electricity and Water cost.
Investment highlights
Space to expand the unit number or add RV spots/Mobile Home for additional revenue from property. Limited rental options in the area, and may benefit owners to explore the use or Section 8 for higher lease rates/revenue amounts. Another value add could be coin operated laundry facility in current garage space or lease garage space as storage to tenant(s) for more revenue.
Property will need some attention for cosmetic repairs/updates as units turn to increase rents further. Could potentially benefit from upgrade to Mini-split units from wall units for air conditioning as well.
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