Description

We are proud to present Plymouth Heights - 380 Plymouth Drive. This 32-unit apartment community was built in 1986 and sits on a 63,000 SF Lot. The property contains (19) 950 SF 2bed/2bath units, (13) 750 SF 1bed/1baths units, 32 covered carports, and 19 open parking spaces. This is a significant value-add opportunity with upside in the current rents. Very attractive $7,300,000 assumable 1st trust deed with 10 years remaining on a fixed and interest only rate of 5%. This is truly a one-of-a-kind asset considering the well above average unit size and excellent design of the original builder. Since its construction in 1986 the property has been meticulously maintained and cared for, which is evident by tenants who feel a sense of community and tend to stay long term. Recently, major systems upgrades include but are not limited to resealing of balconies and installation of new Roof underlayment and new tiles and the removal of a pool which saves a tremendous amount of water plus removes the liability for reduced insurance premiums.