Multi-Family (2-4 Units)
12 units in 7 separate buildings on a corner lot of almost one acre, offered at a cap rate of over 7% proforma, 9 GRM. The apartment complex consists of 3 Houses, 2 Duplexes, 1 fourplex and one Casita. 1(3+2) SFR, 1(3+1) SFR, 2 (2+1) SFR, 3 (2+1) and 5 (1+1). Each unit has its own address. Plenty of parking, no rent control. very good upside as rents are still below market, 100% occupancy with many long term tenants, Property located on the South East Corner of Randall and Elm. Across from the elementary school. Two newer (2006) residential community developments on two of the other corners of Randall & Elm. Currently, 2 of the tenants have their own utility meters and the other 10 share three common gas and electric meters. Sellers are in the process of submetering with four new meter panels connected to four subpanels. Sellers will credit buyers to complete the project. Sellers have notified the tenants that either the submeters will come first or Ratio Utility Billing Systems (RUBS) will be implemented.