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Property Description
THIS OFFERING is for the opportunity to acquire the Hillcrest Arms, a well positioned 12-unit apartment complex with atypical amenities in a desirable Terrace Heights location. While currently underperforming by design (for ease of management purposes), the upside is easily accessible by simple administrative value add methods. Each unit is rented at significantly below market rents with month-to-month terms. The property has three freestanding buildings, including a 10-unit building, a studio apartment building, a detached 2 bed/1.5 bath building, plus includes atypical amenities such as a pool, some covered parking with secured storage rooms with each stall, large yard areas, a gazebo style exterior gathering area, a storage shed and a great view. Roofs need to be replaced and a retaining wall needs to be repaired, for which the seller will reasonably negotiate a credit against the purchase price.

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