Property tours will be offered by Barden Brown on March 22-23 and April 18-19, while tours will be offered by Steve Mack on March 12-13 and April 24-25. Please contact the listing brokers to schedule a tour or for additional tour information. Prospective purchasers may not visit the property or contact the property, staff, and tenants without being accompanied by a representative from Greystone Brown Real Estate Advisors. Well-Maintained Property in Two Sections * The property offered consists of 72 units: The 64-unit Karen Lake apartments in eight buildings constructed in 2005 on a 6.15 acre parcel; and 8 condo rental units in one building, built in 1995 on an 0.56 acre parcel. * The condo building is situated among the buildings of the 128-unit Karen Lake Condominiums, which adjoin the Karen Lake Apartments. * The property is low-maintenance, with pitched roofs and exteriors of brick and HardiPlank (for the apartments) and HardiPlank alone for the condo building. Amenities * The condominium property owns the nearby clubhouse and swimming pool, but residents of the subject rental property are allowed to use those. The condominium’s gates also protect the apartments. * The apartment parcel also includes four one-story storage buildings, which house sixty-four 5’ x 9’ units, which each produce income of $35 per month. * Karen Lake benefits from its sought-after Haymount school district. * The asset also is within walking distance of major retailers and multiple bus lines. Desirable Floorplans * The subject apartments and condo units only offer 1,200 SF two-bedroom flats, whose floorplans and interior finishes are almost identical. * This spacious and well-designed floorplan features a fireplace, separate dining area, patio or balcony with closet, and full washer/dryer connections. The master bedroom has a walk-in closet, garden tub, and separate shower stall. Select units have vaulted ceilings. Quality Performance Can Be Boosted Higher * The asset is well occupied (95.8%) and offers an attractive in-place yield. APN: 0418-58-1204, 0418-58-9554-101, 0418-58-9536-102, 0418-58-9670-103, 0418-58-9598-104, 0418-58-8487-205, 0418-58-8469-206, 0418-58-9503-207, 0418-58-9521-208 Please click below to view a virtual tour of the property: This property will be auctioned on Monday, April 24 - Wednesday, April 26 . The price displayed is the starting bid amount of $1,000,000. For information and to register to bid on this property, please visit Ten-X.com.