Mirror Plaza Apartments offers investors the opportunity to acquire a partially renovated 20-unit multifamily community with significant remaining upside. The property consists of five residential fourplex buildings together with a detached commercial laundry facility. Extensive capital improvements have already been completed on four of the apartment buildings, while one building remains available for renovation. This allows a new owner to complete the business plan and capture additional rental growth.
A unique feature of the offering is the approximately 1,600-square-foot commercial laundry building (per Potter County Appraisal District). Ownership reports the facility is capable of accommodating approximately 20 commercial washers and 10 commercial dryers, providing the potential to create an additional income stream serving the Mirror Plaza and the surrounding neighborhood.
For investors seeking a combination of current cash flow and measurable value-add potential, Mirror Plaza provides multiple opportunities to increase net operating income through continued renovations, occupancy improvements, ancillary income, and operational efficiencies.