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2.38% CAP | Value-Add
The Apartments on G represents a rare opportunity for value-add investors to purchase a property with incredible upside in the heart of Coronado Island where residential supply is limited. This six unit property was built in 1966 and boasts a majority of large two bedroom units. With the ability to renovate and bring rents to top of the market, an astute investor will look to take advantage of this opportunity.
5% CAP | Value-Add
The Durant Towers were built in 1984 and the property consists of (16) extra large studio units. Each unit has full kitchens, private balcony’s, A/C units and walk-in closets. The property offers secured garage parking (18 spots) and gated entrance for tenants. The building has a brand new fire alarm and fire sprinkler system and two on-site laundry facilities. Additionally, there is an opportunity to implement a RUBS program to further increase returns for an investor. The Durant Towers offers an astute investor the opportunity to purchase an income producing asset with a 5% cap rate on market rents and over 7.5% cash on cash return.
Principal | Multifamily Investments