NOTE*** Seller has accepted an offer, but purchase and sale agreement allows Seller to continue to receive offers in a backup position.Although recent renovations have been done, this investment is a value add opportunity.Measures of investment performance at ask price of $939,963 and current average rent of $508 are a GRM of 5.84, a 9.06% cap rate, $37,599 per unit, $61.34/sf and a before tax IRR of 26.40% and an after tax IRR of 20.40%.If rents are raised to submarket average of $660, measures of investment performance increase to a GRM of 4.75, a 12.30% cap rate and a 27.82% cash on cash.
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Listing information last updated on July 4th, 2020 at 3:45pm MDT.