Location

EXECUTIVE SUMMARY:

This community offers a diversified and competitive unit mix comprised of 4 studio units with approximately 400 sq.ft. of living space, 38 two-bedroom units with approximately 1,000 sq.ft. of living space, and 4 three-bedroom and 1.5-bathroom apartment homes. Shaker House was built in 1968 and has been well maintained over the years with mature trees and landscaping.

Currently Shaker House is operating at 93% physical occupancy and for many years has maintained this level of performance. Perhaps even more impressive than this asset’s occupancy is the improved rents ownership is achieving on renewals and new leases. The property’s rents are significantly below market. The complex has maintained outstanding historical occupancy in recent years, requiring only minimal management oversight from ownership.