Oaks Apartments
Price Reduced! | 11 Units | $38,173/unit
Marketing description
The Oaks Apartments are located in an "Opportunity Zone." The Oaks offers a 9.1 Cap Rate, a 5.4 GRM, 10% Cash on Cash first year with a 1.25 DSCR loan at a 51% operating expense ratio. There are eleven units with a mix of two studio, three one bedroom, five two bedroom, and one three bedroom apartments. The units are well maintained with all repair and maintenance issues addressed promptly and professionally. The Oaks Apartments offers a low vacancy and turn over rate. There are a few legacy tenants. There is plenty of parking for residents and guests. The coin operated washer and dryer on site are owned by the seller and included in in the sale. Low maintenance vinyl and stone exterior with a metal roof. The Oaks runs like a well oiled machine! Seller has identified a property for a 1031-Exchange.
Investment highlights
100% Occupied
Turn Key rental with immediate upside
Low maintenance exterior
Plenty of parking available
Coin operated laundry included
All assessments for new streets and sidewalks are paid in full
Legacy tenants / low turnover
Below market rents
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