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Actual, in place 4.62% cap rate. This 100% occupied, turnkey property consists of 11 units in 3 buildings & underwent major interior & exterior renovations last year, including significant upgrades to all utilities, new roof and gutter systems, all new stainless steel appliances, new cabinets, vanities, faucets and fixtures, newly tiled walk-in showers, installation of LVT flooring throughout, newly paved and lined asphalt parking lot, new vinyl fencing around the perimeter with a steel rolling gate on the side and a steel security gate at the entrance, upgraded steel railings, new entry, interior, and security screen doors, new landscaping, upgraded signage, as well as interior and exterior paint. The four 2-bedroom units in the 2-story back building which is concrete on bottom & wood on top were upgraded with all new dual-pane glass vinyl windows, new fan systems, insulation in the ceilings and demising walls, and each unit boasts individual stacked Samsung washer-dryers located on either the balconies or large fenced back patios. The six 1-bedroom units in the 2-story concrete front building include upgraded louver systems with window AC units in the bedrooms & living rooms.