Sportsmans Place Apartments is an amazing opportunity near the National Geospatial Intelligence Agency (NGA), a 1.7 Billion dollar development, employing over 3,000 jobs and scheduled to open in 2025. The NGA will make a huge impact on the economy in North City while improving property values and overall area. Now is the time to take advantage of this massive development! The Subject Property is currently operating at a twenty percent cash on cash return, 9.1% cap rate at list price. The owner has done a fantastic job updating units and stabilizing the property, however there's still substantial room to increase rents. Currently the monthly income is $43,000 with the potential to be $51,000 with all residents paying market rents. The units offer, forced heat, central air, washer dry in unit, vinyl flooring, massive floors plans (1,000+SF), 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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