Well-maintained apartment complex located across the street from Christy Park and near a $72M apartment development that has broken ground. There is a value-add component to the property with many rents below market. Owner has raised rents of some original units to $885 a month. 8 units have been already updated with 2 units currently in the renovation process which will be completed prior to closing. Updated units now rent for $935. Non-updated units rent from $850-$885. Nearby 1 bed apartments are renting for as much as $995. The owner is charging $40 to new tenants or renewals for internet. There are some units not charged for internet yet. Building has updated electric panels and exterior service. Electric heating units in renovated apartments were added. Seller currently provides heat through a boiler system. Storage units are available for tenants, there is some pvc plumbing, pex plumbing is being added to renovated units. There are 3 commercial spaces rented on the first floor.
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