Kiser Group is pleased to present for sale the Keystone Portfolio, consisting of three (3) buildings with a total of 15 units. 2014 N. Keystone has five (5) 2BR/1BA units plus one (1) nonconforming studio. 2018 N. Keystone Ave. has four (4) 2BR/1BA units plus one (1) nonconforming 2BR/1BA unit. 3145 N. Keating Ave. has six (6) 2BR/1BA units. Fourteen (14) units have undergone recent renovations to include granite countertops, stainless steel appliances, refinished hardwood floors throughout, and new bathroom fixtures. The properties generate additional income with coin-operated laundry at each building, two (2) non-conforming units, and five (5) total parking spaces (four (4) garage, one (1) surface). The Keystone Portfolio presents an investor with the opportunity to acquire an in-place cap rate of nearly 7% with room to add value by updating the three (3) unrenovated units. Moreover, through improved leasing and management, investors could increase their yield by bringing all current rents to market rate.
Key Points: 3 Buildings in Hermosa/Kelvyn Park 6.8% Cap Rate 11.3% Proforma Cash-On-Cash Return Value-Add Potential Close Proximity to Public Transportation and 606 Trail
Asking Price: $2,400,000
Building Size: 12,550 SQ FT
Cost per Square Foot: $191.24