Rare Opportunity To Purchase 19 Unit Complex

This well-maintained apartment complex is located in the South Hampton neighborhood across the street from Christy Park and a half-mile from a $72M development planned covering 12 acres on Kingshighway.

• There is a value add component to the property with a strong rental market in the area. Similar sized updated one-bedroom apartments renting for as much as $950.
• Completing a cosmetic update of the units including kitchens, baths, HVAC and in-unit laundry could generate top of the market rents. There is a closet in the apartments that would work well for in-unit laundry.
• A lesser cosmetic update of the units including kitchens and baths could also potentially raise rents significantly.
• Built-in 1928 this building has beautiful architectural detail with interior features like common areas with terrazzo floors.
• Building has updated electric panels and exterior service, storage units for tenants, common area laundry, some pvc plumbing, seller currently provides heat through a boiler system.
• There are 3 commercial spaces on the first floor with 2 occupied. These commercial spaces could be converted to apartments as well to have an all apartment complex.