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Waterford Portfolio 2 Multifamily Properties Offered at $1,990,000 in Waterford, MI
EXECUTIVE SUMMARY
Waterford Portfolio is located in Waterford, this friendly community is within walking distance to shopping, banks, parks. The complex was built in 1965 and
has been well maintained over the years with mature trees and landscaping. It contains 24 apartments homes: all one-bedroom, one-bath units , each
measuring 600-700 square feet.
IPO has projected an NOI going forward of $125,177 based on street rents and the market rate expenses. However, in year two when the complex is stabilized
and brought up to market, the NOI increases to $136,411.
Located in a tree-lined neighborhood, these apartments are conveniently located within a short drive or walk to Rite Aid, CVS Pharmacy, and Walgreens. There are also various parks nearby, including Shell Park, Fish Hatchery Park/Waterford Township Historical Society Historic Village, and Drayton Plains Nature Center. Groceries are never a problem with Tenuta's Food Lane and Aldi supermarkets nearby.
has been well maintained over the years with mature trees and landscaping. It contains 24 apartments homes: all one-bedroom, one-bath units , each
measuring 600-700 square feet.
IPO has projected an NOI going forward of $125,177 based on street rents and the market rate expenses. However, in year two when the complex is stabilized
and brought up to market, the NOI increases to $136,411.
Located in a tree-lined neighborhood, these apartments are conveniently located within a short drive or walk to Rite Aid, CVS Pharmacy, and Walgreens. There are also various parks nearby, including Shell Park, Fish Hatchery Park/Waterford Township Historical Society Historic Village, and Drayton Plains Nature Center. Groceries are never a problem with Tenuta's Food Lane and Aldi supermarkets nearby.
PROPERTY FACTS
| Price | $1,990,000 | Number of Properties | 2 |
| Price / SF | $92.93 / SF | Individually For Sale | 0 |
| Cap Rate | 6.29% | Total Building Size | 21,414 SF |
| Sale Type | Investment | Total Land Area | 1.66 AC |
| Status | Active |
| Price | $1,990,000 |
| Price / SF | $92.93 / SF |
| Cap Rate | 6.29% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 21,414 SF |
| Total Land Area | 1.66 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 3850-3882 W Walton Blvd, Waterford, MI 48329 | Multifamily | 13,800 SF | 1965 | - |
| 3188 Sashabaw Rd, Waterford, MI 48329 | Multifamily | 7,614 SF | 1964 | - |
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Waterford Portfolio
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