OPPORTUNITY IS KNOCKING! NO RENT CONTROL! This 9-unit apartment complex has been owned by the same person since 1971! Many of the current tenants have been in their units for over 20 years and the owner has kept the rents very low. The current gross rent is estimated to be at about half of current market rent rates. There is a total of five 2-bedroom / 1-bath units and four 1-bedroom / 1-bath units. HUGE up-side potential in cash-flow and equity! The property is located approximately a half-block north of Florence Avenue where tenants have easy access to shopping, restaurants and public transportation. The property also has off-street parking and a community laundry facility.Currently there is one vacant 2-bedroom / 1-bath unit that is being made 'rent ready'. Once complete, it is anticipated that the market rent for this unit will be $1,350 per month. With that unit rented at $1,350 per month, considering a 5% vacancy factor, 'the numbers' are showing an anticipated capitalization rate of 3.70% at the asking price with a proforma capitalization rate of 6.88% at the asking price.