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Huron River Shelby 51611 Mound Rd 12 Unit Apartment Building $1,990,000 ($165,833/Unit) 6% Cap Rate Shelby Township, MI 48316
Executive Summary
Huron River Shelby consists of 12 units, 3 two-bedroom, one-bath upgraded units, measuring 900 square feet & 9 two-bedroom, one-bath upgraded units
with granite & stainless-steel appliances, measuring 900 square feet. This property was built in 1962 and has been well-maintained over the years with
mature trees and landscaping. Huron River Shelby offers quiet living with a community feel.
IPO has projected an NOI going forward of $119,329 based on street rents and T-12 December 2024 – November 2025 expenses. However, in year two, when the complex is brought up to market, the NOI increases to $131,712.
This property has received over $90,000 of Cap-Ex improvements, such as new electrical panels in every unit, granite countertops, LVP flooring, 6-panel doors,
and stainless-steel appliances. There is an additional $100,000 being spent on EV Chargers.
with granite & stainless-steel appliances, measuring 900 square feet. This property was built in 1962 and has been well-maintained over the years with
mature trees and landscaping. Huron River Shelby offers quiet living with a community feel.
IPO has projected an NOI going forward of $119,329 based on street rents and T-12 December 2024 – November 2025 expenses. However, in year two, when the complex is brought up to market, the NOI increases to $131,712.
This property has received over $90,000 of Cap-Ex improvements, such as new electrical panels in every unit, granite countertops, LVP flooring, 6-panel doors,
and stainless-steel appliances. There is an additional $100,000 being spent on EV Chargers.
Property Facts
| Price | $1,990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.40 AC |
| Cap Rate | 6% | Building Size | 11,502 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.09/1,000 SF |
| Zoning | CR | ||
| Price | $1,990,000 |
| Price Per Unit | $165,833 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.40 AC |
| Building Size | 11,502 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.09/1,000 SF |
| Zoning | CR |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 958 |
Property Taxes
| Parcel Number | 23-07-17-426-030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $412,500 |
Property Taxes
Parcel Number
23-07-17-426-030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$412,500
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Huron River Shelby | 51611 Mound Rd
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