Lindsey Lane Apartments is a 10-unit multifamily property consisting of four buildings on ±1.98 acres with a mix of one-, two-, and three bedroom units. 9 of the 10 units have been renovated. Numerous mini-split HVAC installed. This limits any near-term capital needs. Four month-to-month leases provide immediate opportunity to increase rents to market; continuing to implement water reimbursements and garage rentals are additional opportunities to increase NOI. With multiple paths to increase income, Lindsey Lane offers investors an attractive combination of current cash flow and value-add upside.
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