Historical Multifamily Sale Listing - Pine Lake Apartments

Multifamily For Sale

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Pine Lake Apartments

3620 Windmill Drive, Waterford, MI 48329

N/A

96 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
96
Building Size:
80,400 SF
Property Type:
Multifamily
Property Sub-type:
Government Subsidized
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
11.26%
Gross Rent Multiplier:
3.35
Occupancy:
100%
No. Stories:
2
Year Built:
1978
Listing ID
17219825
Last Updated
over 1 year ago

Highlights

  • 100% occupancy
  • 21% cash on cash return
  • Excellant location

Description

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.

Map of 3620 Windmill Drive, Waterford, MI 48329 (Oakland County)

Research for 3620 Windmill Drive, Waterford, MI 48329 (Oakland County)

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