501 Independent Avenue
Property Description
Rare investment opportunity. This apartment complex is centrally located with 12 units (nine 3bed/2bath and three 2bed/2bath units) all with attached garage spaces. This complex boasts several upsides including new siding, roofing, stairs, fire sprinkler systems and improved insulation. Very low maintenance and almost ZERO vacancy. Rents are going up through attrition and units are typically rented prior to changing from one tenant to another. This property also has potential to add another 4 plex with excellent views. All units have washer/dryer hookups and long term projected maintenance expense is very low. All units include an electric range oven, refrigerator and dishwasher. NOI expected to increase by $8k-$9k in 2027. All information deemed reliable, buyer to verify.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,900,000 |
| No. of Units: | 12 |
| Year Built: | 2001 |
| Lot Size: | 17,259.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $241,667 |
| Property Website | Click Here |
| Number of Bedrooms: | 33 |
| Number of Bathrooms: | 23 |
ID: 3yd-GJARACO-20262136
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