It's almost impossible to find an 8.5 Cap rate investment property these days. This 12 unit apartment complex is divided into two building with six units per building. Each building has its own address, 563 Central Ave and 385 Dooley St. They have been completely renovated inside and out as of the end of 2020. These units are around 406 Sq Ft with a living room, kitchen, bathroom and a generous bedroom with closet. Each apartment has its own heat and air unit, range and refrigerator. Most tenants are long term residents and our vacancy rate stays below 1%. There is usually a waiting list for vacant units. The owner provides utilities, cable and internet and rents are paid weekly. The average weekly rental price is $265 per unit, but this is still below current market value. You really must see them to understand how well they have been updated and maintained.