Montego Bay Apartments
192 Unit Value-Add Multifamily Opportunity | Sierra Vista, Arizona
Centrally located in Sierra Vista, Arizona, the Montego Bay apartments presents Investors a unique opportunity to acquire an attractive 1997 constructed multifamily community featuring the following investment highlights:
INVESTMENT HIGHLIGHTS
Centrally located in Sierra Vista, Arizona, the Montego Bay apartments presents Investors a unique opportunity to acquire an attractive 1997 constructed multifamily community featuring the following investment highlights:
• 192-unit, garden style community, built in 1997
• Attractive buildings with semi-private resident entrances
• 2017 Capital Improvements renovation equaling $761,000
• 99% Occupancy
• Consistently high stabilized occupancy
• Rent and management upside
• Washer & Dryer in 100% of the resident units
• Desirable balanced and diversified unit mix
• Well designed and spacious one-, two-, and three-bedroom units
• Community site configuration is ideally suited for future access gates
• Centrally and conveniently located among schools, parks, shopping and employment centers
• Investor can acquire all cash or subject to seller approved financing structure
THE OFFERING
Kidder Mathews, in collaboration with RealINSIGHT Marketplace is pleased to offer to qualified investors the Montego Bay Apartments (“The Property”), located in Sierra Vista, AZ. Situated on 8.98 attractively landscaped acres, the Montego Bay apartments offers its residents a complete live-work-play living environment with well-appointed amenities that includes a sparkling swimming pool with hot tub, updated resort style pool furniture, community clubhouse with billiards, fitness room and business center, professional management and leasing office, updated children’s playground, dedicated dog park, and assigned covered parking. Prospective residents can select from four well designed and spacious rental floor plans offering all electric kitchen, washer and dryer, private balcony or patio, carpeted and wood planked vinyl flooring, ceiling fans, refrigerator and dishwasher.
Originally constructed in 1997, the Montego Bay ownership completed extensive renovations in 2017 which included major roof repairs, full exterior paint and stucco repairs, resurfaced pool, equipment and resort style furniture, new children’s playground, dedicated dog park, exterior lighting, and parking lot repairs.
Grounded on the recent capital improvements completed and consistently high stabilized occupancy, prospective investors for the Montego Bay are ideally positioned to capitalize on future rental and management upside.
