Loan rates will come down eventually, but in the interim, it's time to be on the lookout for properties w/actual upside potential. Shilo Apartments is an 8-unit building, comprised of (3) 2bd units, (3) 1bd units & (2) roomy studios. Only one unit has been fully remodeled. While other units have been simple improvements like paint & flooring, there exists a very real opportunity for a capable investor to improve this property, & bring rents up to their market potential. The cap rate is currently sitting at 4.75%, but could easily reach 5.5%+ w/fairly modest improvements, or higher if an investor wants to upscale the units or get creative with shorter-term, higher rent leases. Located in Fremont, a couple blocks from shopping & restaurants.
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