-This well-maintained apartment complex is located in the South Hampton neighborhood across the street from Christy Park and a half-mile from a $72M development planned covering 12 acres on Kingshighway.
-There is a value add component to the property with a strong rental market in the area. Similar sized updated one-bedroom apartments renting for as much as $950.
-Completing a cosmetic update of the units including kitchens, baths, HVAC and in-unit laundry could generate top of the market rents. There is a closet in the apartments that would work well for in-unit laundry.
-A lesser cosmetic update of the units including kitchens and baths could also potentially raise rents significantly.
-Built-in 1928 this building has beautiful architectural detail with interior features like common areas with terrazzo floors.
-Building has updated electric panels and exterior service, storage units for tenants, common area laundry, some pvc plumbing, seller currently provides heat through a boiler system.
-There are 3 commercial spaces on the first floor with 2 occupied. These commercial spaces could be converted to apartments as well to have an all apartment complex.
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