Property Description

The Camelia Townhouse Apartments, built in 1972, has 29 units located in 6 buildings spread over 1.5 Acres. This fully rented complex features Townhomes that have been updated over the years with new kitchen cabinets, flooring and newer vinyl windows in most of the apartments. Each of the 6 buildings have new roofs, installed in 2019, and every apartment has its own Washer & Dryer and is on a separate electrical meter. Camelia Townhomes have 25- 2 Bedroom 1.5 Bath, 930 sq ft apartments and 4- 3 Bedroom 1.5 Bath 1148 sq ft apartments, AND every Townhome comes with a dedicated parking space with 20 overflow spaces. On a Bus Line and close to multiple Parks, local services, shopping and restaurants, this 29 unit complex is priced under $130K per door.Below market rents offer top line growth opportunity.