Milford Village Flats 811-845 N Main St 16 Unit Apartment Building $3,300,000 ($206,250/Unit) 6.16% Cap Rate Milford, MI 48381

Milford Village Flats presents a rare opportunity to acquire a fully
stabilized, 16-unit multifamily community in the heart of Milford,
Michigan — one of Oakland County's most desirable and supply-
constrained submarkets. The property comprises two well-
maintained residential buildings offering an identical unit mix of all
one-bedroom, one-bath floor plans averaging 740 square feet. With
over two dedicated parking spaces per unit and a 100% occupancy
rate, the asset generates monthly gross revenues exceeding
$22,000, equating to an annual gross potential income of $264,000. The property features a favorable utility structure that enhances net
operating income. Each unit is individually metered for electricity
and gas, with tenants responsible for those costs directly. The
landlord covers only water and trash. Every unit is equipped with its
own in-unit washer and dryer, electric baseboard heat, and window
AC — amenities that support strong tenant retention. A utility
reimbursement program currently generates approximately $360
per month in additional income, further improving cash flow.
The current owner has invested over $500,000 in capital
improvements over the last two years, substantially reducing future
CapEx exposure for an incoming investor. Major exterior and
structural upgrades include a brand-new roof, a freshly resurfaced
parking lot, updated property signage, and enhanced professional
landscaping that elevates the asset’s curb appeal. On the interior,
the community has undergone extensive modernization with high-
end turnkey renovations featuring new cabinets, premium
countertops, modern flooring, fresh paint, and updated
contemporary fixtures. These comprehensive upgrades position the
property to command premium rents while ensuring low-
maintenance operations for years to come.