This is a top-quality, low-risk asset, situated in a very strong rental submarket - and it also has significant upside potential. RENTS ARE WAY BELOW MARKET. Property is located in Youngtown, adjacent to the retirement haven of Sun City. As a result, Sun Valley tends to cater to an older, stable resident profile, which has allowed the property to develop a long history of consistently high occupancy, with very low tenant turnover.
The exterior of property is in excellent condition. However, the apartment interiors are still quite basic, especially the ones that have had long-term tenants living there - but that creates an enormous opportunity for the Buyer.
Note: a total of 59 of the 71 units are currently on month-to-month leases, so rents can potentially be moved up very quickly.