Multi-Family Space For Lease @ 1506 Greenwood St

This is an ideal property for either a local investor wanting to expand their portfolio in San Angelo or a newer investor wanting to get started in multifamily. It’s maintained strong occupancy and has all classic, unrenovated units. If you stabilized current operations, the projected IRR by year 5 is 19.3%.

There is strong upside on rents if you did decide to completely renovate the units. Also, the tenants aren’t currently charged for water. Other than implementing RUBS, there are several ways to reduce expenses especially on water savings and getting repairs and maintenance in line with the market. If you implemented the value add plan, the projected IRR by year 5 is 26.0%. This space offers accomodations for: lowrisegarden.