The Subject Property consists of eight (8) 1-bedroom, 1-bathroom apartments. A new owner can achieve an attractive 8.16% cap rate on current income. Current rents are below market rates presenting an opportunity for an investor to increase rental income by almost 18%, resulting in over a 22% increase in Net Operating Income. The property is all electric, meaning heat is tenant paid. Tenants also benefit from on-site coin laundry.
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