12 unit apartment project, constructed in 1990, recently exterior painted, 100% occupied, HUGE upside potential in existing contract rents, most of which are currently month to month and below market, allowing for quick increases to rent. At time of construction 1 unit was not permitted due to a reported shortage of 1 parking space. 12 units are currently leased and rented and the Assessor now shows this property as a 12 unit property. Ownership reports the possibility of converting one space in covered parking garage for additional parking. The average rents shown are proforma rents which are based on market rents being achieved at competing properties in the immediate neighborhood.