5.01% CAP on current rents with 49% upside! Since 2020, nearly 1/3 of the units have turned over naturally without any relocation assistance. Constructed in 1971 on a 24,008 square foot LAR3 double lot, The Orleans is a three-story, 54-unit multifamily property with a total building area of 36,012 square feet. The controlled-access property with intercom entry offers an elevator, two on-site laundry facilities, and 57 gated subterranean parking. The property is separately metered for electricity, the units are not serviced by gas and there is a central water heater. The Orleans boasts all one-bedroom/one-bathroom units, and offer laminate wood flooring, electric stoves, dishwashers, radiant heat, and wall units for cooling. Select units offer a private balcony.