Purchase was made in July 2015 for $1,175,000. GRM was 9.36, with gross rental income totaling approximately $126,000 annually. Five of the ten units were vacant upon purchase making for immediate upside potential.
Immediate Upside Potential
Since purchase, buyers have gutted and rehabbed five of the 10 units, added an electric gate, added a laundry room, painted exterior railings, and completed a variety of other minor upgrades.