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Adam's Square Apartments 1130 E Woodward Heights Blvd 16 Unit Apartment Building $1,715,000 ($107,188/Unit) 7.50% Cap Rate Hazel Park, MI 48030
EXECUTIVE SUMMARY
1130 E Woodward Heights is an existing apartment building located in Hazel Park, Michigan. The property consists of 16 units which are fully occupied, grossing nearly $16,000 per month. The units are a mix of one bedroom, one bath (eight units) and two bedroom, one bath (eight units). The building utilizes electric heat and a boiler for hot water. Tenants pay for electric (including heat), which is separately metered, while the landlord covers water and sewer.
PROPERTY FACTS
| Price | $1,715,000 | Building Class | C |
| Price Per Unit | $107,188 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 9,600 SF |
| Cap Rate | 7.50% | No. Stories | 1 |
| No. Units | 16 | Year Built | 1965 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Parcel Number | 25-25-180-029 |
| Apartment Style | Low-Rise | ||
| Zoning | ME | ||
| Price | $1,715,000 |
| Price Per Unit | $107,188 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 9,600 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Tenancy | Single |
| Zoning | ME |
| Parcel Number | 25-25-180-029 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $950.00 | 650 |
| 2+1 | 8 | $1,050 | 800 |
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Adam's Square Apartments | 1130 E Woodward Heights Blvd
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