Listed by The Multifamily Advisors
$875,000
Gulf Avenue Apartments
Details
APN 18793-000-000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,944
Units 10
Cap Rate 6.86%
NOI $60,000
Occupancy 90%
Pro-Forma Cap Rate 8.23%
Pro-Forma NOI $72,000
Class C
Year Built 1977
Year Renovated 2021
Buildings 1
Stories 1
Acreage 0.390
Investment Type Stabilized
Fully remodeled - 10 units - $87.5k/unit
Marketing description
For Sale
Investment highlights
- 2019 Roof
- Exterior Hardiboard
- Windows replaced
- Doors replaced
- Water heaters replaced 7 of 10 units
- Air Conditioning
- 5 units with hot/cold framed into wall
- 5 units with mini-splits
- Plumbing
- Electrical (interior & exterior)
- Bathrooms
- Appliances
- Lease all units to HUD-VASH program at $1,030 per month
- Add washer/dryer connections for increased rent
- Lease all units to HUD-VASH program at $1,030 per month
- *V-Rent means the voucher rent amount paid by HUD-VASH, tenant pays the balance
- Units 10
- Total SF 3,944
- No of Bldgs 1
- No of Stories 1
- Year Built 1977
- Roof Type/Age Built-up/2019
- Parcel # 18793-000-000
- Acres 0.39 +/-
- Tenant Pays Electric, water, sewer
- Landlord Pays Garbage
- Washer/Dryer No connections
Listing Contacts
Listed by The Multifamily Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$60,000.00
$5,000.00/mo
Valuation Metrics
0
DSCR
6.86%
Cap Rate
6.86%
ROI
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