This Multifamily Property is Off-Market.

15027 Brookview Drive
Riverview, MI 48192 ·

300 Units · Multifamily For Sale

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Pennbrook Place Apartments

Price N/A Cap Rate 8%
No. Units 300 Occupancy 93%
Building Size 255,750 SF No. Stories 3
Property Type Multifamily Year Built 1973
Property Sub-type Garden/Low-Rise Lot Size 33.28 AC
Property Use Type Investment Parking Ratio 1.72 / 1,000 SF
Listing ID: 13976978 Date Created: 07/29/2004 Last Updated: 09/13/2004

Description

Good unit mix- 60% of the units have two bedrooms averaging 853 sf per unit. Pennbrook Place is an opportunity to reposition the property due to increased demand for more upscale residential housing. Low price per unit, $38,333. At $45 per square foot, price is below replacement cost. Low density site- 9 units per acre.

Increased traffic and visibility in late 2004 due to the widening of Pennsylvania Road from two lanes to five lanes.

Research

15027 Brookview Drive, Riverview, MI 48192 (Wayne County)

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