Originally constructed in 1967, Park Plaza Apartments is a sixteen-unit apartment community located in the heart of Auburn. Adjacent to Frank Fulmer Park, Park Plaza offers residents spacious two-bedroom homes. Since the pandemic began, two-bedroom apartments have been in high demand, it’s no wonder Park Plaza units are always in high demand. Larger units coupled with unparalleled access to main arteries and major employers make Park Plaza an ideal place to call home.

Park Plaza Apartments consist of sixteen ±742-square foot two-bedroom/one-bathroom units. Each unit features a spacious living and dining room, deck or patio, oven/range, and refrigerator. This offering presents an excellent opportunity to purchase a multifamily building with strong appeal, while being able to take advantage of significant rental upside. An incoming investor can easily justify spending the necessary dollars on renovating the units to achieve an excellent cash on cash return. Our proposed renovation package would include new carpet, Formica counters, new cabinet faces, updated lighting package, fresh paint, upgraded appliances, and a light bathroom refresh, to achieve an average cash yield of 7.4% over the course of a 7-year hold.