The 52 unit Scruggs Townhomes represents a great opportunity to create a “value add” deal at a 7%+ cap rate without having to complete deferred maintenance.
FOR SALE; The Scruggs Townhomes
Great Montavilla location, adjacent to Bible College. 2003 year built property features spacious 2 bd/1 ba units, with immaculate laundry room and off-street parking. Very well maintained, vinyl windows, has been utilized for Bible College students (all rental leases expire on 5/31/2017). Seller prefers to sell in conjunction with adjacent 52 unit property. Marketing pro forma contains only market rents due to seller providing below market rents to tenants, all financials available with accepted offers.
For more information, call Bernard Gehret at 503-546-9390 or click on the Joseph Bernard Investment Real Estate link here: