Highlights; Competitive ProForma CAP Rate of 6.01 %, Competitive ProForma Offering GRM of 11.57, Gross Rental Income Has A Significant Potential Increase of 15%, The Apartment is 100% Occupied With Long Term Tenants, Rental Comparables Illustrate a 99% Occupancy Area, Non-Rent Control Community & Area Residential Neighborhood, Close to Public Transportation and Neighborhood Retail. The apartment community located on Postal Avenue is situated on a 0.172 acre lot. This 6 unit apartment community is comprised of all one bedroom / one bathroom units. The tenants are provided onsite parking, and onsite laundry. The property is located in a community mixed with multi-family and single family residences.This neighborhood's real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in this neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.In this neighborhood, the current vacancy rate is less than 2 %, which is a lower rate of vacancies than 90 % of all neighborhoods in the U.S. This means that the housing supply in this neighborhood is very tight compared to the demand for property here.
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