Listed by Greysteel
$8,450,000
Cedar Heights Townhomes
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 70,400
Units 64
Cap Rate 6.42%
NOI $542,508
Occupancy 93%
Class B
Year Built 1984
Year Renovated 2024
Buildings 16
Stories 2
Zoning R6
Parking Spaces spaces
Investment Type Value Add
Occupancy Date 12/04/2025
Value-Add Multifamily | 64 Units
Marketing description
UNIQUE TOWNHOME COMMUNITY IN QUIET NEIGHBORHOOD
Cedar Heights is a community of 64 two-bedroom, 1.5-bathroom townhome units. All units are individually metered for water and electricity. The property consists of 16 two-story, all-brick buildings on an eight-acre lot, providing a low-density environment with ample green space. Located at the back of a single-family neighborhood, the property offers a quiet setting that contributes to strong resident retention. Each unit includes in-unit laundry. 59 of the 64 units have been renovated, with 20 units in buildings 704, 706, 708, 709, and 710 rebuilt from the ground up in 2012.
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Listed by Greysteel
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$542,508.00
$45,209.00/mo
Valuation Metrics
0
DSCR
6.42%
Cap Rate
6.42%
ROI
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