The First Avenue Townhomes property is an amazing opportunity for an investor to invest in an "A" location and via renovations stabilize a property and generate maximum returns. Located in the heart of Hillcrest, this address boasts a walk score of 93! The property consists of five 2br/1.5ba townhomes that are approx. 1,200sqft each. Not only is the property full gated, but each unit comes with a parking space and private patio. Four of the five units have washer and dryers in the unit and the fifth units has access to on site laundry facilities. In the last few years, current ownership has replaced the roof (with approx. 16 years left on the warranty), painted the exterior and replaced all of the windows. All units will have leases which convert to month-to-month leases effective June 30th 2018. Currently the rents are significantly below market. By modernizing each unit, rents can be increased to $2,800+/mo. There is also a strong short term rental play to maximize returns.
Listing courtesy of The Browar GroupSelling Office: Marcus & Millichap.
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