It has undergone major improvements over the last year, and it continues to grow...

Coronado has undergone major gentrification and revitalization due to flippers coming in and fixing up the 100 year old homes.

@Nathan Click, I am curious about how commercial lenders look at a multi unit that has vacancies but will perform well, i.e. 70% or less ARV and 2+DCR, once subject has undergone a slight rehab and is then rented and fully occupied?

@Par Attaran This area is an area that has undergone some revitalization lately. 

The other factor was that the house had undergone some abuse like kids drawing on the walls and filthy carpet...which means unattended children.I remember when I was much younger I purchased a $3,000 living room set because I liked the painting that was hanging over.

“The U.S. has undergone tremendously difficult conditions that have fundamentally altered our nation’s demographics, but one thing remains certain—there is a need and demand for more rental housing,” said NAA President and CEO Bob Pinnegar.

There are about 4 square miles of downtown Detroit that have undergone a major reniassance. 

We have undergone the entire HPOZ process and cleared it, now we are awaiting the Planning Department to approve our plans and then we have to go to a public hearing in front of the board that we've already had 2 consultations with. 

The sale notes mentions the single two-story building has undergone major renovations within the last 18 months.

There has been some in-fill development that make terrific rentals, but most is older, (50's through 70's), though I would guess that a fair amount of the inventory has already undergone some level of remodel already.To the North, you can look at Roseville, Rocklin and Lincoln for many of the same reasons you're considering Folsom.