The Woodford is a beautifully constructed apartment building developed in 2016, which includes 12 single-vehicle garages. Each with interior entrances, The Woodford offers state-of-the art security upon entry. While residents can simply swipe their key fob for quick entry, guests are required to “dial-up” to the tenant for access. The unit mix contains a total of 18 one-bedroom, one and a half bathroom units (1 is ADA accessible and one bathroom), approximately 841 sq ft), 2 large one bedroom, two and one half bathroom units capable of being converted to two-bedroom units (approximately 1,122 sq ft), and 4 two-bedroom, two and one half bathroom units (1 is ADA accessible and two bathrooms - 1,122 sq ft) – all beautifully finished.
The Woodford was built in 2016, and was spared no expense upon its creation. Each unit comes complete with high-end finishes, including granite counter tops, stainless steel appliances, washers and dryers (for rental), recessed lighting, laminate hardwood floors, multiple fire prevention systems, balconies or patios, ADA accessibility, an elevator, and an open concept.
The HVAC is outfitted with Tenant-paid electric-forced air furnaces and Central Air for all 24 units. In each hallway, there are two electric heat and air conditioning sleeve units, as well as 1 main central-air duct. The Landlord is responsible for the water, however, a surcharge of $50 per unit, per month, has been assessed for 15 of the 24 units. There is no gas on the premises.
Additionally, there are 12 garages available for rent. Each garage rents for $125 per month. Currently, there are 10 of 12 rented, and are offered for new tenants. Washers and Dryers are also being offered for rent to new tenants at $35 per month, and 12 of the 24 units are currently paying washer and dryer rent. Further, there are 12 ample-sized storage rooms: 3 per floor. Currently, 2 are being used for storage and cleaning materials. 10 storage rooms remain unoccupied and could easily be converted to locked storage facilities, possibly creating an additional $500 per month, or an extra $6,000 per year in income.
Of significant importance to The Woodford are the taxes. Currently, there is an 85% abatement on The Woodford for a period of 15 years. January, 2018 is month 1 of year 1 of the 15-year abatement, leaving nearly 15 years of significantly-discounted taxes in place for new ownership.
