Purchase from an off2market deal in February 2015 for $3,584,000. GRM was 8.3, with GRI approximately $400,000 annually. Half of the units use Section 8 vouchers for rental payment.
No deferred maintenance
Since purchase, buyers have started a capital improvement campaign in which a new roof was installed, four units were rehabbed, new security gate added, and new coin operated vending machines added.