Myrtle Apartments

Property Description

With 13 of 14-unit interiors extensively upgraded, including electrical subpanels, this 14-unit apartment building offers an attractive yield approaching a 6% Capitalization Rate, at the asking price. The location is within a rapidly up-and- coming neighborhood. The property offers (2) two-bedroom/one-bath and (12) one-bedroom/ one-bath units. Remodeled units include vinyl plank flooring, custom cabinets, stainless steel appliances, new bathroom vanities, and modern lighting and fixtures throughout. Both kitchens and bathrooms have been completely remodeled in these 13 units. The secure access building also features ample parking; new windows; two laundry rooms; and separate meters for gas and electric. A RUBS program has been implemented to further reduce operating costs. The new owner can continue implementing the RUBS program to further increase the yield.