This 16-unit apartment complex offers a value-add opportunity with in-place income and strong upside. With 5 tenants currently in place and units primed for renovation, rents can be increased from the current $540 average toward market levels, targeting an estimated 10% cap rate after stabilization. The building would benefit from comprehensive electrical and plumbing upgrades, along with renovations and updates to the vacant units, making it well-suited for an investor prepared to execute a thoughtful rehab plan and unlock long-term cash flow. The property consists of sixteen 1-bedroom, 1-bathroom residential units, a highly desirable layout supported by consistent local rental demand. The total building square footage is approximately 11, 548 square feet, situated on a 0.372-acre lot. Below-market rents provide upside through strategic renovations and rent repositioning to align with current market averages. Area rental data supports average rents of approximately $756 for comparable 1-bedroom units within a 3-mile radius. Additional value can be created through improved property management efficiencies and stabilization. With targeted improvements, the property offers the opportunity for increased cash flow and long-term appreciation.
