Unit Cove Townhomes
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Available on
December 15, 2023
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Time on Market
4 months
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Last updated
Dec 14, 2023
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Space ID
2153604
Property Details
1980s Value-add Townhomes through continuing with the in-place upgrade program- modern paint, fixtures, flooring, cabinet fronts, backsplashes, counter-top resurface, and appliances. Competing properties achieving over $250/unit more with mid-tier amenities ($1,300 vs $1,550/unit) . Exceptionally high sub-market rent growth as reported by ALN; trailing 24-mos is 23.59% and trailing 12-mos 14.55% while CoStar reports 3-star assets in the area experienced rent growth of 9.4% YTD and are forecasting 6.2% growth by 2022 EOY. Owner recently completed significant deferred maintenance, including replacing plumbing (toilets and faucets), reducing the water bill by $2,000, and adding new roofs, fencing, awnings, and signage. . Expense saving opportunity by implementing Smart Technology Package. Superior location situated at the corner of E. Beltine Rd and Parks Dr. with over 20,000VPD traveled and frontage to West Middle School
- Property TypeMulti-Family
- Submarket
- Year Built1983
- Total Building Size16,240RSF
- Total Available16,240RSF
- Last updatedDec 15, 2023
- Property ID2231456