Property Detail

Description

**IMMEDIATE CASH FLOW AT DAY ONE** **100% MASTER LEASED** NEWLY CONSTRUCTED 15 UNIT APARTMENT BUILDING. eLAvate, Inc. is pleased to present 1156 W. Florence Ave. A newly constructed 15 unit apartment community with a dedicated on site office, 100% MASTER-LEASED to a single corporate tenant encompassing all 15 units. This is not a lease up. This is IMMEDIATE CASH FLOW AT DAY ONE with none of the leasing risk, turnover cost or vacancy drag of traditional multifamily ownership. 13 of the 15 units are restricted via a recorded rental covenant. 2 units (both three bedrooms) are at market rate/unrestricted. New construction delivered in March 2026. Three stories, 9,571 SF living space, 6,000 SF lot. 15 residential units + 1 on site office (lobby level, with private restroom & HVAC). Unit Mix: 7 Studios | 6 Two Bedroom/Two Bath with washer & dryer | 2 Three Bedroom/Two Bath with washer & dryer. All electric property. Every unit equipped with stainless steel refrigerator, microwave, dishwasher, and electric range/stove. All 2BR and 3BR units include in unit full size washer and dryers. Common area laundry room serving the 7 ground floor studio units, equipment provided under separate agreement at no cost to ownership. Owner provides internet & TV streaming to all units and the on site office via a Spectrum bulk internet agreement at no cost to the master tenant. **POTENTIAL WELFARE TAX EXEMPTION* As an affordable/ED-1 project, a buyer who acquires and holds the Property through a qualifying nonprofit may substantially reduce the property taxes and meaningfully improve net cash flow versus standard taxation This is a buyer side structuring decision, not a feature of the current ownership or lease. This is not a guarantee of exemption and buyers should consult their own tax and legal advisors. Refer to the offering memorandum - "Welfare Exemption Scenario" illustration.