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.
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