8828 Riverview Blvd is an uncommon investment opportunity. What makes it so? The building is positioned in a neighborhood sweet spot & filled with good tenants. The monthly rental amounts are at or near market rates (see attachment). The monthly expenses are low (especially real estate taxes - a variable outside of investor’s control). The collection of various systems serving the building have been replaced or updated by licensed technicians under permit (i.e. roof 2023, HVAC systems 2019, plumbing 2022, electrical 2022, 24, 25,). The investment returns are high, 9.545% Capitalization (Cap) Rate at offer price. Deploying a Ratio Utility Billing System (RUBS) would lower your expenses further and elevate the Cap rate to 10.527%.
The building was constructed in 1941, each apartment is a one bedroom/one bathroom unit. These apartments have a modern floor plan which feature secluded bedrooms, a separate space for dining, and a generous living room. The original hardwood floors are the star of the show, beautiful, long lasting and durable: The kitchens feature newer shaker style white cabinets with upgraded plywood bases, updates include an over the range microwave. Deep thought and planning have gone into this investment which in turn will, effectuate a strong performance now, and long into the future. PLUS, you have the ability to watch over your investment from anywhere in the world, literally. High quality surveillance lets you peek in on the investment at any time.
The building is full, showings will be available with an accepted contract. Additional photographs of the apartments and improvement projects are available in the attachments.
