Village Terrace has an excellent rental history. It was built in 1985 and has 20 units. Many improvements have been made by the current owner, such as, new shingles on Building A & C (Building B shingles are scheduled for replacement as well), new shutters, replacement of exterior columns, all new exterior lighting, power washed, newly painted entrance stairwells, etc. As units have turned over to new tenants, owners have made updates-new flooring, paint, light fixtures, new bathroom vanities, appliances, etc.
All 20 units have their own stackable washer/dryer.
Rents have increased under current owners/new property management, with the potential for more increases. Once remaining apartments are up to $825/month, the CAP rate would be around 6.97%.
Unit Information:
20 units
2 Bed/1 Bath 652 SF (Avg)
$770.00 $/SF/Month (Avg)
Owner is Broker.
- Property Type
Multi-Family
- Amenities
- Free Parking
- A/C
- Onsite parking
- Year Built
1985
- Total Building Size
13,040RSF
- Total Acres
0.82
- Number of Floors
2
- Number of Buildings
3
- Zoning
RMF-HD
- Property ID
2219321
