Location
Executive Summary
Built in 1972 and renovated in 2013, Anchor Bay Apartments has 5 garden-style buildings consisting of 58 units. The property contains a desirable unit mix of 22 one-bedroom units (950 sq.ft.) with a rental rate of $950, and 36 two-bedroom units (1,150 sq.ft.) with a rental rate of $1,050. Notable for investors is the current and historic occupancy, which is currently at 100% and has performed between 95%-100% occupancy for many years. Anchor Bay Apartments is outfitted with a Landlord-paid, hot-water baseboard heating system, and the electricity is separately metered. Amenities at the property include on-site laundry, covered parking and a view of Anchor Bay.