Located in the heart of Downtown Medina's Historic Business District*Unique opportunity to acquire one of only a handful of Class-A+ tenants, trophy multifamily assets in a growing & dynamic area, offering residents a highly sought after walkable urban lifestyle*NOI of 39,200, Cap Rate: 6.03%* 100% Leased Luxury Apartment Style homes w/private parking* Walk to shopping, restaurants, entertainment & other high-quality service offerings commanding extremely high level of desirability among area residents*Strong & affluent residential tenant base w/ 0 vacancies & 0 delinquencies at present & during the pandemic* Newly completed 3 unit "Triplex" (1 Penthouse Style, 1 Raised Ranch Style & 1 Ranch style - All attached & on 1 parcel) w/12 car parking lot & Brand New Att insulated 3 car garage* Turn Key makes this perfect for an investor looking for A HIGHLY stable & hassle-free investment.*Over 300K invested since 2019 includes a Massive addition of one brand new unit & the complete reconstruction of units 2 & 3 includes LG. Covered Trex Decking Bk porch w/ tempered glass panels* Given the recent revitalization, the asset allows for superior cash flows & efficiencies as there is NO deferred maintenance & new modern systems in place* Fully fenced bk yard w/cantilever gate, which abuts a 15.5-acre city pk w/trails, baseball diamonds & splash pad* One yr leases*Never a vacancy* Not subject to a 1031 exchange*Call listing agent/owner for list of major upgrades in the last 2 yrs!
Listing courtesy of HER REALTORS.
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