Purchase was made in June 2015 for $965,000. GRM was 10.47, with gross rental income totaling approximately $93,000 annually. Immediate upside potential as rents had not been increased in over 5 years.
Immediate Upside Potential
Since purchase, buyers have added a new electric gate, gutted and rehabbed two of the units, remodeled two interior stairwells, and remodeled the laundry room.