Detailed Introduction Of This Home
14 Units Built in 1964 Property Remodeled and Re- Branded to Student Housing in 2022. 8 of the 14 Units have Been Completely Remodeled. Mix of (2) 1+1 and (12) 2+1. The property will come with Permits to Build 3 ADU's (2) 2+2 ADUs, (1) 5+5 ADU. 11,734 Gross Square Feet (pre-ADU construction) on a 10,700 Square Foot Lot. Individually Metered for Gas & Electric. On Site Laundry. The ProForma Cap Rate is 9.32% after the ADU Construction and the Renovation of the final 6 existing units with legacy tenants. With the roof having been replaced, the plumbing upgraded and the soft-story retrofit completed - most capital for a new investor will be spent toward the ADU's and the 6 unrenovated units.