Property Description

Fairview Apartments offers an immediate, dependable cash flow opportunity for a local owner-operator or regional investor looking to build generational wealth with an asset that is as easy to run as it is rewarding to own. Situated in a warm, friendly town known for its welcoming atmosphere, safety, and strong sense of community, the property attracts long-term, conscientious tenants who take pride in where they live. Neighborhood amenities, local parks, and everyday conveniences are just minutes away, making it a place residents are proud to call home. All major capital projects and interior deferred maintenance are 100% complete-featuring brand-new exterior siding, fresh paint, clean landscaping, and updated water heaters and appliances throughout. Operations are simple and cost-efficient. Tenants pay their own electric, and every unit has been upgraded with two through-the-wall A/C units, giving residents full air conditioning-a rare competitive advantage in the local rental market. A dedicated on-site laundry room equipped with two commercial SpeedQueen washers and two dryers (all under two years old) generates an additional $3,600 in reliable annual cash flow. With five units completely renovated and three partially updated, the complex delivers steady, day-one income supported by a respectful, established tenant base. Eight classic yet clean units remain for you to update at your own pace to capture higher rents. Priced at just $68,750 per unit, the property operates at an honest 9.33% in-place cap rate ($102,600 NOI), putting roughly $36,700 in clear annual cash flow in your pocket after servicing a standard 75% bank loan.

Property Features

Local Schools