Located on 11 acres at 159 Aegean Court, the garden-stylecomplex includes 110 two-bed, two-bath units, 48 one-bed, one-bathunits and 10 three-bed, two-bath units. Including tenants who havesigned leases but not yet occupied a unit, A&C broker MarkLeary tells GlobeSt.com that occupancy at the property is 99%.

"This is a classic add-value opportunity in a tight rentalmarket with other renovated properties that support the upsidepotential," says Leary, who will call for offers in 30 days.

Rental comparables suggest that Canyon Creek could achievesignificantly higher rents if it added washer and dryers andupdated the kitchens, flooring, light fixtures and bathrooms, Learysays. For an example, he points to the Sommerset Apartments, whichwas recently renovated and is now achieving rents that are$175-$200 higher per month than Canyon Creek.