Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1967
Building Area Net
Land Area Net ()
Number of units 272

Asset Description

UNIQUE, CLASS “B” COMMUNITY WITH RECENT CAPITAL INFUSION – Consisting of 52 duplexes in 26 individual single-family like buildings Villas at Monterey is a well-maintained, Class B asset in an ideal location. The Property is in excellent physical condition as current ownership has invested more than $500,000 of capital into the exterior of the asset that includes full exterior paint, new signage, parking lot repairs, replacing one boiler, along with recently remodeling the resident lounge and clubhouse. A new owner is afforded the opportunity to focus capital improvements on potential interior improvements rather than having to cure any deferred maintenance.


SIGNIFICANT VALUE-ADD OPPORTUNITY – Villas at Monterey represents an extraordinary opportunity to continue or expand on the value add program that is in currently in-place. Potential upgrades include granite countertops, stainless steel appliances, faux wood floors, upgrading lighting packages, tile backsplash, framed mirrors in bathrooms, and 2” blind packages.

Investment Highlights

COMMUNITY FEATURES:

→ Resident clubhouse

→ Sparkling swimming pools

→ Business center

→ Picnic area with barbecue pits

→ Playground

→ Covered parking

→ Laundry facility


UNIT FEATURES:

→ Resurfaced countertops*

→ Black appliances*

→ Faux wood floor*

→ Backsplash*

→ Built-in bookshelves*

→ Full size washer & dryer connections*

→ Wood burning fireplaces*

→ Vaulted ceilings*

→ Full-size washer/dryer connections

→ Balcony/ patio*

*Available in select units.

Last Updated Date: 01 Oct 2021

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Last Updated Date: 01 Oct 2021

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