Description
The Centerville Apartments consists of two 8-unit buildings (16 units total), a clubhouse, and a concrete slab for a potential 3rd building on a large lot. Building #1 was renovated in 2013, and Building #2 is being renovated (completion by Sep-Oct 2022). Each unit is 650 Sq Ft, with two bedrooms and one bathroom. The clubhouse has an office, a bathroom, storage space, and a laundry room. Potential for further improvements to the asset to significantly increase profit and add value include implementing a RUBS program for tenants to pay water and increasing rents to the market rate.The concrete slab with existing utilities offers the potential for 8 additional units.
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32BEDS
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1.05ACRES
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16BATHS
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01/2 BATHS
Description
The Centerville Apartments consists of two 8-unit buildings (16 units total), a clubhouse, and a concrete slab for a potential 3rd building on a large lot. Building #1 was renovated in 2013, and Building #2 is being renovated (completion by Sep-Oct 2022). Each unit is 650 Sq Ft, with two bedrooms and one bathroom. The clubhouse has an office, a bathroom, storage space, and a laundry room. Potential for further improvements to the asset to significantly increase profit and add value include implementing a RUBS program for tenants to pay water and increasing rents to the market rate.The concrete slab with existing utilities offers the potential for 8 additional units.
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