Location

EXECUTIVE SUMMARY:

Viotis is a 20 unit complex developed in 1965, and includes a simple floorplan of one-bedroom apartments. Each with exterior private entrances, Viotis offers affordable living with a home-style feel. The floorplans are all identical, and being about 575 ft2, they are hassle-free and easy to maintain.

Viotis is poised for new ownership with a value-add mentality and prime for water sub-metering. All 20 units have undergone minor rehab, including new windows, all new H20 tanks, new electrical service throughout the building, new baseboard heat, and new asphalt. Currently, the average rental rate is $512 per month. Upon completion of rehab, Viotis will rent for about $590 per month.

Viotis is outfitted with tenant-paid electric baseboard heat, electric sleeve A/C units, and individual, electric hot water tanks for each unit. There is also electric, common area laundry on site.