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Willow Street Apartments 44 E Willow St 13 Unit Apartment Building $1,199,000 ($92,231/Unit) Monroe, MI 48162
Executive Summary
Willow Street Apartments consists of 12 units: 1 one-bedroom, one-bath unit, measuring 800 square feet, and 11 two-bedroom, one-and-one-half-bath units,
each measuring 1,000 square feet. The complex is currently 100% occupied. Willow Street Apartments offers affordable, quiet living with a community feel.
IPO has projected a Year 1 NOI of $95,905 based on street rents, while accounting for a vacancy factor consistent with historical trends. This NOI also includes a market-rate management fee of 5%, a $200 replacement reserve, and operational expenses that are consistent with the historical trends and market
averages.
each measuring 1,000 square feet. The complex is currently 100% occupied. Willow Street Apartments offers affordable, quiet living with a community feel.
IPO has projected a Year 1 NOI of $95,905 based on street rents, while accounting for a vacancy factor consistent with historical trends. This NOI also includes a market-rate management fee of 5%, a $200 replacement reserve, and operational expenses that are consistent with the historical trends and market
averages.
Property Facts
| Price | $1,199,000 | Building Class | C |
| Price Per Unit | $92,231 | Lot Size | 0.77 AC |
| Sale Type | Investment | Building Size | 12,204 SF |
| No. Units | 13 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Garden | ||
| Zoning | RM | ||
| Price | $1,199,000 |
| Price Per Unit | $92,231 |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 12,204 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1970 |
| Zoning | RM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 850 |
| 2+1.5 | 12 | - | 1,000 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 55-69-00014-001 | Improvements Assessment | $268,360 |
| Land Assessment | $39,340 | Total Assessment | $307,700 |
Property Taxes
Parcel Number
55-69-00014-001
Land Assessment
$39,340
Improvements Assessment
$268,360
Total Assessment
$307,700
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Willow Street Apartments | 44 E Willow St
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