Sportsmans Place Apartments is an amazing opportunity near the National Geospatial Intelligence Agency (NGA), a 1.7 Billion dollar development, employing over 3,000 people and scheduled to open in 2025. This government agency will make a huge impact on the economy in North City while improving property values and neighborhood. Now is the time to take advantage of this development! With that being said, the Subject Property is currently operating at a 20% plus cash on cash return, 9.1% cap rate at list price, despite NGA it's still a great investment. The owner has done a fantastic job updating units and stabilizing the property, however there's still a ton of room to increase rents. Currently the monthly income is $43,000 however the potential to be $51,000 if all residents were at market. The units offer, forced heat, central air, washer dry in unit, vinyl flooring, massive floors plans, updated plumbing and electric, new appliances and kitchens....the list goes on and on.
Listing courtesy of Apartment Advisors of America.
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