Property Description

Rare opportunity to acquire a 33-unit condo portfolio offered as a distressed investment due to fire incidents that occurred in 2022 and 2023. As a result, pricing reflects a significant discount, currently estimated at approximately 50?60% below prior market values.This portfolio is best suited for experienced investors with a medium- to long-term investment horizon and may not fit all buyer profiles. Several units are impacted and pending future renovation coordination through the HOA. Based on current HOA communication, reconstruction and remodeling of fire-affected units are anticipated to begin within approximately two years, subject to HOA timelines and approvals.Prior to the fire events, comparable units within the community historically traded between $125,000?$180,000 per unit, presenting potential upside as restoration progresses and market conditions stabilize (buyers to independently verify all projections).The current owner is actively working to lease up additional units, with plans to add approximately seven more rental units, which may improve future income performance and NOI.Prime investment opportunity for value-add investors seeking long-term appreciation and income growth potential.

Property Features