Overview

Description

DRIVE BY ONLY - DO NOT ENTER THE LOT OR THIS WILL BE CONSIDERED TRESSPASING
SVN Desert Commercial Advisors is excited to announce the availability of this 12 unit apartment complex located at 4204 N 17th St. This workforce housing complex will provide an investor with an excellent value add proposition or the option to keep in place the affordable housing master lease.

The building is currently occupied by a master lease that occupies every unit in this building. The building can be sold with the tenant in place or it will be delivered 100% vacant. If the option to remove the tenant is exercised all units will be cleaned and general repairs and maintenance will be conducted before the close of escrow. The master leased tenant pays for utilities, unit turns, turnover as well as general repairs and maintenance. The Landlord is responsible for taxes, building insurance, landscaping as well as any big ticket capital expenditures that are caused by natural wear-and-tear. The buyer will be able to negotiate for a 10% rent increase in September 2022.

The program that is occupying this building is subsidized by the government and has been using the building for over 15+ years. If bought vacant this property would be an excellent short term rental property with some initial capital improvements. Or an investor could instead place market rate tenants into the property.

Join others along this area of 17th street that are improving this rapidly improving workforce housing street

Highlights

• Value Add
• Improving Neighborhood
• Great Submarket
• Space for Private Patios
• Master Tenant (Optional)
• Great Cashflows
• High Upside

Documents

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