Investment Highlights
- Thirteen (13) total units consisting of:
- Four (4) 2-Bedroom / 1-Bathroom units
- Nine (9) 1-Bedroom / 1-Bathroom units
- Brand-new Weil-McLain boiler system with R&D Controls energy management system installed in 2025
- Spacious floor plans featuring separate living and dining rooms
- Strong value-add opportunity through conversion of existing 1-bedroom units into larger 2-bedroom layouts
- Attractive in-place 11.0% cap rate with potential to achieve a 12.0% pro forma cap rate
- Well-positioned multifamily asset with operational and rental upside
Property Details
| Property Type | Multifamily |
| Subtype | Apartment Building |
| Building Size | 9,000 SF |
| Number of Units | 13 |
| Cap Rate | 11.0% |
| Pro Forma Cap Rate | 12.0% |
| Price per SF | $93 |
Value-Add Opportunity
The property’s efficient unit layouts and generous floor plans present an opportunity to increase revenue by strategically converting select 1-bedroom units into 2-bedroom units, potentially driving higher rents and enhancing overall asset value. Combined with recently completed capital improvements, including a new boiler and control system, the asset offers investors both immediate cash flow and long-term upside potential.
Bedroom(s) 3 | Full Bathroom(s) 2
