Listed by Watson Companies
$2,150,000
Gertrude Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 18,720
Units 24
Cap Rate 3.49%
NOI $75,117
Occupancy 62%
Pro-Forma Cap Rate 5.71%
Pro-Forma NOI $122,680
Price per SqFt $115
Broker Co-Op Yes
Class C
Year Built 1965
Year Renovated 2024, 2025
Buildings 2
Stories 3
Acreage 0.631
Zoning 02-Multifamily
Parking Spaces 24 spaces
Parking Per SqFt 1.28
Investment Type Value Add
Occupancy Date 01/29/2026
Multifamily | 24 Units | $89,583/unit
Marketing description
24 Unit Apartment Campus at 3416 and 3420 Gertrude Street. Substantially updated 1 and 2 bed apartments - Kitchens, Bathrooms, Flooring, Fixtures,
(7) two bed units
(17) one bed units
Well located property with long term hold opportunity to increase income annually.
Investment highlights
Listing Contacts
Listed by Watson Companies
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$75,117.00
$6,259.75/mo
Valuation Metrics
0
DSCR
3.49%
Cap Rate
3.49%
ROI
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