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2424 36th Avenue West
Property Description
American Property Group presents an 9 - unit purchase in Silk Oak Condo Park. Buyer will acquire 9 condo units out of the total 24 units in this park. Lease friendly condominium! With 5 tenants on month to month and two having leases coming due end of Oct 2024 along with Jan 2025 a market NOI of approx. $130,518 (9 CAP+/-) is within easy reach. (See the pro forma included in the rent roll) Consistent superior investment property with recent remodeling completed and below market rents! Always 100% leased! Each unit has approx. 972 sf with 2 bedrooms and 2 bathrooms. Most units have been remodeled from floor to ceiling with minimal to no work needed from a new owner. Each apartment includes a full kitchen, living room area, dining area, full bathroom, washer/dryer hook up space, primary bedroom with its own private restroom. Silk Oak has just undergone a full re roof with completion now done in 2024. For complete details including rent roll, 2024 budget, condo docs please complete the NDA attached to the brochure! Current NOI = $109,818 With 5 tenants on month to month and two having leases coming due end of Oct 2024 along with Jan 2025 a market NOI of approx. $130,518 (9 CAP+/-) is within easy reach. (See the pro forma included in the rent roll) * NDA must be completed for more income information. * This is a sale that includes all 9 condos. Seller will not do individual sales or anything below all 9. * If you visit the property, please do not disturb the current tenants. * Sellers requests prior to a full interior tour that an agreed offer be accepted, approval letter, and/or proof of funds. Once this is met prior to escrow buyer(s) will receive a tour of each apartment. This is to minimize foot traffic as these are apartments in quality shape and we do not want to alarm the sellers' valued tenants.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,459,000 |
| No. of Units: | 9 |
| Year Built: | 1982 |
| Lot Size: | 1.95 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $162,111 |
| Property Website | Click Here |
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Brokers
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Chase Lord
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Felix Gutnikov
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Essex Property Trust, Inc.
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Asset Living
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