Sold!
$2,950,000
24
Beds
12
Baths
10,892
Living Area
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Property Description
The 67-71 John A Dunn Memorial Drive apartment complex is a 12-unit property comprised of (2) six-unit properties which are side-by-side. The property offers a very attractive unit mix, consisting of 100% two-bed, one-bath units. Also onsite is common laundry and ample surface-level parking, and all separate utilities except water and sewer. There is a value-add opportunity at the property to mark all rents to market level, as they are currently $400 below market. All 12 units have been recently renovated, including new stainless appliances, quartz countertops, backsplash tiles, vinyl flooring, white cabinets, and bathroom fixtures. An energy audit was performed in 2023 as well to identify any ways to optimize operating expenses. In-place cap rate is over 6%, pro forma cap rate is over 8%.
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Highlights
- Parking Spots: 99
- Property Type: 5+ Family - 5+ Units Up/Down
- Year Built: 1970
- Property Class: Residential Income
- Total Rooms: 99
- Status: Closed
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Additional Details
- Construction: Frame
- Lot Features: Easements
- Total Number of Units: 12
- Year Built Source: Public Records
- Foundation: Concrete Perimeter, Slab
- Roof: Shingle
- Year Built Details: Approximate
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Amenities
- Parking Features: Paved Drive, Off Street
- Waterfront Features: Stream
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Utilities
- Sewer: Public Sewer
- Water Source: Public
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Fees / Taxes
- Compensation Based On: Gross/Full Sale Price
- Taxes: $27,743
- Tax Year: 2024
- Total Rent: $22,050
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of Berkadia Real Estate Advisors LLC.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
