The Bunker Hill Apartments is comprised of two adjacent apartment properties and one single family home under common ownership totaling 39 apartment units.
Bunker Hill North
Bunker Hill North Apartments offer 22 apartment units comprised of 18 two bedroom units and 4 three bedroom units. Floorplans include both two-story townhomes and single-story apartments. Each unit has a sliding glass door leading to a private patio and a front door that leads to an interior courtyard. Tenants pay for electric, cable and water charge. Bunker Hill North has a brick facade and mansard roofs. There are two buildings that surround a central courtyard. There is ample surface parking, coin laundry machines and new vinyl window.
711 Bunker Hill
711 Bunker Hill offers 16 two bed, one and one-half bath townhomes. Units have washer & dryer hookups. Tenants pay electric and water. The townhomes are housed in two buildings that surround an interior courtyard. The buildings have brick and siding facades with pitched asphalt shingled roofs. Each unit has a separate entrance that faces the courtyard and sliding patio door just off the kitchen.
Bunker Hill Apartments is priced with a twenty-five percent vacancy factor to allow a substantial value add opportunity for the purchaser. The focused investor will have the potential to capture over $60,000 in additional income while adding a half-million dollars to the value. A pro forma 10% vacancy factor pushes the cap rate to 11.25% at the list price.
