Commercial Property of the Week, sponsored by Elifin Realty: 58-unit Fairwood Apartments complex for sale

    Fairwood Apartments is a 58-unit apartment complex located on Eaton Street, just off of Mohican Avenue in Mid City North. The property is approximately 2.3 acres and consists of 19 apartment buildings and a large parking area. The unit mix features studio, 1-bedroom, 2-bedroom, and 4-bedroom units. The complex has maintained stable 90% occupancy through 2018 and 2019. With rents currently below market, the complex boasts an 8.2% pro forma cap rate. All ground floor units were renovated in 2017, which helps position this complex for drastically higher returns through rent increases. View the full offering memorandum, including financials, by clicking here.

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