201 9th Avenue

A turnkey 20- Unit value-add opportunity for commercial investors and 1031 prospects. This 20-unit garden-style apartment complex presents immediate cash flow with upside through strategic renovations and stabilized NOI growth, supported by a growing regional housing demand and nearby commercial development.Current Gross Potential Rent (GPR):19 x $1,050 = $19,950 per monthUnit 206: $1,350 per monthTotal Monthly Gross Rent: $21,300Annual Gross Revenue (current): $21,300 x 12 = $255,600NOI (current): 0.65 x $255,600 = $165,660Cap Rate: 5.25%2-Year RenovationPlan (Proforma)Renovation Plan: Renovate all 20 units to the standard of Unit 206Renovated Rent (all units): $1,600 per unit/monthProjected Gross Revenue: 20 x $1,600 = $32,000Annual Gross Revenue: $32,000 x 12 = $384,000NOI (future): 0.65 x $384,000 = $249,600Cap Rate Assumption: 5.25%Implied value based on NOI:Value = NOI / Cap Rate = $249,600 / 0.0525 $4,760,000