19 Units in South Hampton Neighborhood

Well-maintained apartment complex located in the South Hampton neighborhood, across the street from Christy Park and a half mile from a $72M apartment development that has broken ground.

• The seller has just completed recently adding central heating in the apartments which will significantly reduce heating costs, will increase rent potential in the future, and adds value to the building.
• Built in 1928, this building has beautiful architectural detail including terrazzo floors in the common areas.
• There is a value-add component to the property with many rents below market. Nearby similar 1-bedroom apartments are renting for as much as $995.
• Owner has raised rents of some non updated units to $885 a month. 
• 9 apartments have been recently updated, with 1 unit has been partially updated. 
• The owner is now charging $40 to new tenants or renewal for internet. There are some units that have not been charged for internet yet.
• There is now additional income from the common laundry area in the basement. 
• Building has updated electric panels and exterior service. 
• Storage units are available for tenants, with the potential to add additional storage in the basement. 
• There is some pvc plumbing, pex plumbing is being added to renovated units.
• There are 3 commercial spaces rented on the first floor.
• Virtual walkthrough tours of two units are available here: https://bit.ly/3wXgsur & https://bit.ly/3wQaknR