Listing provided courtesy of Listing Broker: Joseph Berkson, Marcus & Millichap RE Invest.
*** SELLER WILL CARRY A NEW FIRST LOAN, INTEREST ONLY, DUE IN 5 YEARS ***
The subject property is an outstanding investment opportunity with a stable income stream, rental upside, in-place capital expenditure reserves and an excellent amenity package An investor will reap the immediate benefit of the community Association’s recently approved, massive special assessment that infused its reserves with the addition of over $630,000 to cover the costs of common area maintenance and upgrades that will modernize its hallways, interior lighting and other common areas.
Built in 1992, the offering consists of twenty-two 1 bedroom / 1 bath rental condominium units within a sixty-eight unit complex which are distributed throughout three floors of the property. All of the units provide central air conditioning and heating, gas ranges, microwave ovens, dishwashers and large private balconies or patios. Most of the units have either hillside views or views of the neighboring Lions Field sports complex and Hillside Park.
This offering provides several unique ownership benefits rarely available in properties in this size: common area management and maintenance and a broad range of common amenities such as multiple fitness rooms on each floor, a community room with a full kitchen, media center and pool table, a private park, a pool and spa and laundry rooms and restroom facilities on each floor of the complex.
Price / Sq.Ft.
$454 / ft2
Flyhomes Cash Offer
Based on a price of $5,000,000
Cash Offer Costs:
Flyhomes Cash Offer
Flyhomes Guaranteed Offer
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Interior Features & Layout
Laundry Details: Community
Appliances: Disposal, Gas Range, Microwave
Security Features: Automatic Gate, Card/Code Access, Closed Circuit Camera(s), Fire and Smoke Detection System, Fire Sprinkler System, Gated Community, Security System, Smoke Detector(s)