Nearby Schools
Iveland Elem.Elementary School
Hoech MiddleMiddle School
Ritenour Sr. HighHigh School
Description
The Woodson Apartments offer a tremendous, near turn key opportunity with a proven renovation plan. 20 of the 24 units have already been updated and are experiencing incredible demand from the rental market. Potential to push rents higher than the in-place rents. Newly updated ranchette style units are leasing for $825 and townhouse style units are leasing for $1,050. All townhouse units have private basements as well - a huge value for tenants. Renovation costs have averaged $6,000 per unit for ranchette units and $7,000 per unit for townhouse units. Renovations include paint, new cabinets, new or re-finished floors, baseboards, updated bathrooms, new doors, new lighting and fans. A large amount of common area capital expenditures have also been completed by ownership. This list includes new roofs/gutters/gutter guards in 2021, 8 of 12 waste stacks replaced on townhouse side, newly sealed/paved/stripped parking lot, tree trimming, drainage system, new concrete walkways and steps.
Location
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