Azul Apartments

The Azul apartments is a 33-unit apartment community built in 1992. Twenty-four (24) of the units have large 1 bedroom 1-bathroom layouts (750 Sq. Ft) and the remaining nine (9) units have efficient studio layouts (400 Sq. Ft).
The apartment homes feature low maintenance granite counters in the kitchens, new vanities with quartz counters in the bathrooms, and luxury tile flooring in the kitchen and bathroom areas. The kitchens include dishwashers, built-in microwaves above the ranges, and newer range ovens. 10 of the 33 units have undergone a recent remodel which includes luxury vinyl plank flooring, new lighting, baseboard trim, and fresh interior paint. This opportunity offers an investor a healthy in-place cap rate, and the new investor can continue upgrading flooring as units come available to further achieve rental premiums and value appreciation.