Listed by Navigate Commercial Real Estate
$1,200,000
Santorini at the Park Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Units 31
NOI $352,932
Occupancy 96.8%
Tenancy Multi
Year Built 2001
Acreage 31.000
Zoning C1-55(M)
Investment Type Stabilized
Occupancy Date 12/31/2025
Multifamily | 31 Units
Marketing description
Opportunity to acquire a 22.4% ownership interest in a stabilized 31-unit multifamily property, generating passive income. Investment opportunity backed by an experienced, long-standing and stable ownership group with decades of successful collaboration.
Investment highlights
- Opportunity to acquire a 22.4% ownership interest in a stabilized 31-unit multifamily property, generating passive income.
- Investment opportunity backed by an experienced, long-standing and stable ownership group with decades of successful collaboration.
- Potential for a meaningful capital distribution through an anticipated 2028-2029 refinance.
- Proven operating history with historically strong occupancy and low vacancy.
- New roof scheduled for installation in 2026, supporting the property's long-term value and reducing future capital needs
- Consistent Cash Flow: NOI has averaged ~$354,000 over three years, demonstrating stable, predictable performance. The 22.4% interest has generated approximately $24,192 in annual distributions.
- Refinance Upside Event: The mortgage matures in September 2029. A refinance at that time creates the potential for a significant capital distribution to all members, representing a near-term liquidity event for a new buyer.
- No Controlling Interest: With five members and no majority holder, the LLC operates by consensus. No single partner can force a sale, refinance, or major capital decision, providing structural protection for all members.
Listing Contacts
Listed by Navigate Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$352,932.00
$29,411.00/mo
Valuation Metrics
0
DSCR
29.41%
Cap Rate
29.41%
ROI
Map
Zoning
C1-55(M) CommercialGeneral CommercialCommercial Mandatory Housing Affordability
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View all 80 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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