24 Unit Portfolio - Fully Occupied & Recently Renovated

Description:

1600, 1602, 1608, 1610, 1612 Brick Kiln Ln & 4900 Invicta Drive are included in this offering, gross rents for the portfolio total $230,160 annually.

Fully occupied 24-unit apartment complex conveniently located off of Dixie Highway, this complex sits within walking distance of Kroger, Walgreens, ALDI, Planet Fitness and a variety of other retail, medical, and restaurant centers.

This portfolio features 15,900 SF across 6 buildings and sits on 1.3 acres. The tenant mix offers consistent rental income due to subsidized government assistance. Of the 24 tenants, 18 are below-subsidized market rents.

The seller purchased these mostly vacant and unhabitable in Q3 2022. Since purchasing, he has made a series of improvements and managed to get all 24 units fully occupied. Such improvements include new roofs, windows, doors, bathrooms, kitchens, HVAC/mechanicals, electric, interior and exterior paint, as well as of a variety of other items to ensure every unit is rent-ready.

This is a stable, cash-flowing, and turn-key asset for any investors looking to expand their portfolio.

Adjacent .237 acre lot, large enough for another 4plex, can be included in the purchase for an additional $30,000.

Interior showings will require an executed LOI and 5-day notice to tenants.

RECENT IMPROVEMENTS

1600 & 1602 Brick Kiln Ln
- New roof, windows, HVAC, bathrooms, kitchens, electric, clean outs, paint, flooring, doors, mini splits throughout, water heaters, exterior paint

1608 Brick Kiln Ln
- Light renovations to make rent ready

1612 Brick Kiln Ln
- New roof, windows, HVAC, bathrooms, kitchens, electric, clean outs, paint, flooring, doors, mini splits throughout, water heaters

4900 Invicta Dr
- New roof, windows, some exterior paint, central air HVAC in Units 1, 2, and 4, mini split in Unit 3, water heater in Units 3 and 4

Shively and Pleasure Ridge Park