Residential Income - Lake Elsinore, CA

We are pleased to exclusively present Grand Blackwell Apartments, a 22-unit, single-story apartment community located in the City of Lake Elsinore, California. Walking distance of less than a block to Perret Park & the Lake, the buildings are situated on combined lot area of .62 acres and is comprised of twenty-one, studio\/one-bathroom units and a large one, three-bedroom\/two-bathroom unit plus an office. In recent years, the property has undergone renovation work on the interior, exterior, and common areas including but not limited to: block wall & vinyl fencing, tile flooring in all units, updated kitchens & bathrooms, paint throughout the property, A\/C, and new water heaters. The astute investor has the ability own a well located, value-add opportunity that presents the potential to significantly increase cashflow within a relatively short period of time. The investment appeal of this asset is driven by the property\u00e2\u0080\u0099s current value-add component through hands-on management and leveling rents to market. Investment Highlights: *Single Story Construction for All Units *Walking Distance to Perret Park & Lake Elsinore *7.61% Cash-on-Cash Return on Actual Numbers *On-Site Laundry (Machines Owned) & Storage Units for Additional Income *Tile Flooring in all Units with Updated Kitchens & Restrooms *Individually Metered for Electricity *Improvements Include: New A\/C, Water Heaters, Block Wall & Vinyl Fencing, and Paint throughout the Property