Location

EXECUTIVE SUMMARY:

The Five-14 Apartments is a ranch-style community comprised of five spacious 600 square foot one-bedroom apartments. The property was built in 1968 and over the course of the last two years has undergone significant renovations including the complete upgrade of all five units (kitchens, baths, appliances, flooring & fixtures), a new roof, and thousands of dollars of landscaping.

Currently Five-14 is 100% occupied and has enjoyed a long history of stabilized occupancy. Rents average $900, with the low at $825 and the high at $950. By August 1st rents on three of the five units are set to increase to $1,000. This will take the average rents to $940 and greatly improve the Gross Income. The Five-14 Apartments represent a well-located, turnkey asset with value-add potential ready to be realized through an active, hands-on management approach.