Highlights: Competitive Offering CAP Rate of 6.34 %, Proforma Cap of 6.75 Competitive, Offering Actual GRM of 9.16, Proforma Grm of 8.59, Many Interior Units Have Been Updated, Non-Rent Control Community & Area, Rental Comparables Illustrate a 95 % Occupancy Area, 5% - 7% Upside In Potential Rental Income Per Rental Comparables. The apartments located at 1521 North Sierra Way are situated on a large .43 acre lot . This twelve unit apartment community is composed of 8 one bedroom / one bathroom units and 4 two bedroom / one bathroom units.
The Apartment community is located in the W 13Th St / N E St area. The areas real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes. Many of the residences in W 13Th St / N E St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999. Home and apartment vacancy rates are 5-10% in the W 13Th St / N E St area. Analysis shows that this rate is lower than 40% of the neighborhoods in the nation, approximately near the middle range for vacancies.
Total population of , which has changed by % since 1990.
The median age of the population is , while the median
age of dwellings is .
Out of households, are families.