Listed by JRE Brokerage
$1,300,000
50-Unit Multifamily Complex with Below Market Rents
Details
APN 331686, 331694, 399906, 399914
Property Type Multifamily
Sub Type Apartment Building
Square Footage 22,850
Units 50
Pro-Forma Cap Rate 13.89%
Pro-Forma NOI $180,600
Buildings 2
Stories 2
Acreage 2.480
Zoning C1 – Light Commercial
Investment Type Stabilized
Multifamily | 50 Units | $26,000/unit
Marketing description
The Place d’Charles apartment complex comprises 50 (1) bedroom, (1) bathroom units across 2 buildings.
Several rents are below market rate, presenting an immediate opportunity to increase rental rates. Operating at market rates, the pro forma yields a NOI of $180,600.
The complex is equipped with on-site laundry facilities and a large off-street parking lot.
Strategically located to generate consistent tenant demand, the property is located just 1 minute from Airline Hwy and 4-8 minutes from I-110 and I-10.
This property is available for purchase individually or as part of a 160+ unit portfolio. Contact broker for more information.
Offering Memorandum https://buildout.com/sharing/5515-5523-prescott-rd?file=3908052
Listing Contacts
Listed by JRE Brokerage
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