HIGHLIGHTS

• Unit Mix: Excellent Unit Mix consisting of (1) 3 Bed/1 Bath Unit, (1) 2 Bed/1 Bath Unit, and (4) 1 Bed/1 Bath Units
• Strong Day 1 Income w/ Significant Rent Upside:
• Current CAP Rate: 6.52%
• Current GRM: 9.87
• Market CAP Rate: 9.63%
• Market GRM: 7.46
• Rent Upside: 33%
• Expansive Lot Size: The building sits on 8,504 SF of land, which is exceptional for the submarket
• Ample Parking: Due to the large lot and efficient lot coverage, each tenant is afforded its own on-site parking space, which is especially valuable in this parking impacted submarket
• Separately Metered: Property is separately metered for gas and electricity
• On-Site Laundry: The property benefits from on-site laundry generating additional income
• Capital Improvements:
• Roof was updated in 2020
• Significant electrical upgrades in recent years