Sage Tree Apartments 507 Amos St 10 Unit Apartment Building $1,700,000 ($170,000/Unit) 6.38% Cap Rate Crestview, FL 32539

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Sage Tree Apartments in Crestview, FL. Newly Constructed in 2021, this 10-unit, single-building, asset consists of (10) 840 SF Two Bed One Bath Apartments. The Sage Tree Apartments boasts several amenities such as individual entrances, ample parking, and dishwashers just to name a few. Additionally, all utilities are individually metered, with tenants responsible for paying electricity and water.

The Sage Tree Apartments are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notable, this asset has significantly below market rents with occupancy levels historically averaging near 100%. After doing an in-depth rent comparable study (located in the OM), it has been determined that current average apartment rents are $75-$150 below similar competing properties. This leaves investors with an opportunity to increase rents to market and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.