3620 Windmill Drive
Waterford, MI 48329 ·
96 Units · Multifamily For Sale
Pine Lake Apartments
|No. Units||96||Cap Rate||11.26%|
|Building Size||80,400 SF||Gross Rent Multiplier||3.35|
|Property Sub-type||Government Subsidized||No. Stories||2|
|Property Use Type||Investment||Year Built||1978|
|Listing ID: 17219825||Date Created: 06/27/2011||Last Updated: 11/03/2011|
Income Property Organization is pleased to announce the exclusive marketing of Pine Lake Apartments located in Waterford, Michigan.
This community is part of the LIHTC Program moderate income housing but it may be syndicated into another LIHTC program after 2012. A regulatory agreement will be provided to qualified purchasers.
If you have further questions or would like to set up a private visitation, please feel free to contact us at your convenience.
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. The owners are currently patching and sealing the parking lot.
- 100% occupancy
- 21% cash on cash return
- Excellant location
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