12 two-bedroom unit apartment building. Building fully leased and stays fully leased in this very tight apartment market, especially at the rent price point. Projected NOI is $101,813 when all 12 units are renovated. Currently, 8 units have been renovated (at a cost of ~$8k per unit) and four units are non-renovated. The rent for the non-renovated units will increase to a minimum of $950 as each unit turns over and gets renovated. At full occupancy and full renovation, an 8% proforma cap rate will yield $1.272 million. Commission to cooperating broker is a flat $10,000 fee.