1951 Upham St. is a 7-unit apartment community built in 1961 with recent updates to interiors, roof, parking lot, sprinkler system, fence, and exterior stairs. The building is composed of all 2 and 3 bedrooms units. Pride of ownership is clearly apparent in this well maintained property. Tenant retention has been strong and there is potential rent upside as evidenced in 0% historical vacancy over the last 3 years.
The property is in a growth location roughly 1 mile from the Wadsworth Light Rail Station. A strong draw to this deal is the assumable loan option with a 4.1% interest rate fixed through 2031. With this path, there is potential for 10% cash on cash return for an owner manager. This is a rare opportunity to buy a well-maintained property that will continue to improve over time.

