LFC & DeFalco Real Estate are proud to present the rare investment opportunity to acquire a fully-occupied 84-Unit apartment building on 6.652 acres. Located in one of the top performing multi-family markets in the country, the property is postured as a redevelopment opportunity with a high & stabilized cash flow.The property has a current NOI of $400,000; 2017 pro-forma has the NOI at a total of $550,000.In 2011, the zoning was approved from R-3-B to R-5-A, allowing an additional 48 units to be constructed.Property is comprised of seven (7) two-story apartment buildings and a centralized management office.The current NOI is at $400,000; 2017 pro-forma at $550,000.Six (6) different floorplans consisting of (14) one bedroom/one bath units, (2) two bedroom/one bath units, (8) two bedroom/two bath units, (10) two bedroom/one bath with den units, (36) two bedroom/two bath with den units, and (14) three bedroom/two bath units.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
