This Multifamily Property is Off-Market.

3620 Windmill Dr.
Waterford, MI 48329 ·

96 Units · Multifamily For Sale

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Pine Lake Apartments

Price N/A Commission Split 2%
No. Units 96 Cap Rate 10.05%
Building Size 80,400 SF Gross Rent Multiplier 3.35
Property Type Multifamily Occupancy 96%
Property Sub-type Garden/Low-Rise No. Stories 3
Property Use Type Investment Year Built 1978
Listing ID: 16812769 Date Created: 08/26/2010 Last Updated: 08/08/2011

Description

Income Property Organization is pleased to announce the exclusive marketing of Pine Lake Apartments located in Waterford, Michigan. Pine Lake Apartments is conveniently located near major highways, entertainment, and shopping districts. Due to its large units and many updates, Pine Lake Apartments maintains and impressive historic occupancy of 95% to 100%. In addition, there have been many updates to the property including newer carpet and vinyl flooring. Many kitchens are updated with newer wood cabinets, electric ranges, dishwashers, and garbage disposals. This community is part of the LIHTC Program until 2012, and then it may be syndicated into another LIHTC program or converted to a conventional market rent community. If you have further questions or would like to set up a private visitation, please feel free to contact us at your convenience.

Waterford Charter Township is a charter township of Oakland County in the U.S. state of Michigan. As of the 2000 census, the township had a total population of 73,150. Waterford is also part of "The Lakes Area" because of the large number of freshwater lakes throughout the township

Highlights

  • Carports and Dishwashers
  • Large Units
  • Excellant Locatin
  • High Cap Rate

Research

3620 Windmill Dr., Waterford, MI 48329 (Oakland County)

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