Description
Gorgeously remodeled/updated 69 unit apartment complex located a quarter mile from Ft. Huachuca in Sierra Vista listed at a proforma 6.22% cap rate. In 2021 to present, property boasts new roof, new gym, remodeled leasing office, business center, pool, fire safety system, and muraled walls. 39 of the units received brand new kitchens, flooring, paint, fixtures, and appliances. All units were updated with new paint, flooring, and many have new PTAC AC units. 30 of the units are currently furnished with another 10 underway. Currently at 95% occupancy with an average rental rate (including RUBS) of $895 per unit. Property has to be leased month to month to keep grandfathered zoning. One of the Members of the Owner is a licensed real estate broker in AZ.
Location
Courtesy of: Pinnacle Realty And Investment Advisors LLC The data relating to real estate listings on this website comes in part from the Internet Data
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All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Updated: 24th September, 2022 7:39 PM (UTC)
