Description
Garden Apartments (51 townhomes and 13 apartments) in Gold River is an exceptional value-add real estate opportunity. For sale are 64 residential units: an apartment building (13 one-bedroom suites, office, laundry room and storage lockers) and 52 townhomes: 26 two-bedroom townhouses and 25 three-bedroom townhouses. All units are individually metered for heat, hot water and hydro. Purchase with a 6 percent plus cap rate on your investment with 39 of the sixty-four units rented. After updating and renting the remaining 25 units, your cap rate could double to over 13 percent! Achievable monthly rents are:$700 for 1-bedroom suites, $800 for 2-bedroom townhomes and $900 for 3-bedroom townhomes. Call your agents for an NDA to receive financials.