This charming property is comprised of 1 one-bedroom one-bathroom apartment homes at 700 Sq. Ft. and 55 two-bedroom one & one-half-bath apartment homes 850 Sq. Ft. It was built in 1969. Currently, Appleton Ridge Apartments is operating at 94.6% physical occupancy. Even more impressive than this asset’s condition is the location. IPO has projected an NOI going forward of $294,737 based on street rents and the T-12 March 2024 – February 2025 P&L. However, in year two when the complex is stabilized and brought up to market, the NOI increases to $316,700.