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3850-3882 W Walton Blvd Multifamily Building
ABOUT 3850-3882 W WALTON BLVD , WATERFORD , MI 48329
| Price | Not Individually For Sale | Building Class | C |
| Property Type | Multifamily | Lot Size | 0.80 AC |
| Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
| Price | Not Individually For Sale |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.80 AC |
| Parking Ratio | 1.96/1,000 SF |
EXECUTIVE SUMMARY
Income Property Organization is pleased to present the exclusive marketing of The Waterford Apartments, which consists of 24 units, and is located at 3188 Sashabaw Rd. and 3850 Walton Blvd. in Waterford, MI.
Waterford Apartments are situated just off Sashabaw and Walton. On the properties you will find 24 one-bedroom/one-bathroom units, each alike, each with units ranging from 550-600 square feet and an average rental rate of $650.
The 2013 Proforma Income (NOI) is $107,334, thus at an asking price of $1,190,000 The Waterford Apartments are being marketing at a 9.02% Capitalization Rate on in-place NOI. This provides an investor a potential first year Return On Investment (ROI) of 13%. For an investor looking to experience significant and steady returns in a stable market, The Waterford Apartments can be acquired at an appealing value. Given the strength of the rental market we strongly believe that it is a great time to be an apartment owner.
Waterford is home to 73,473 residents, and is located between Commerce Township and White Lake in Oakland County. The location of the properties is close proximity to expressways, providing easy access to surrounding employment sources and entertainment or shopping destinations. This area has seen growth over the last decade. The demographics continue to improve as this population shift progresses.
Waterford Apartments are situated just off Sashabaw and Walton. On the properties you will find 24 one-bedroom/one-bathroom units, each alike, each with units ranging from 550-600 square feet and an average rental rate of $650.
The 2013 Proforma Income (NOI) is $107,334, thus at an asking price of $1,190,000 The Waterford Apartments are being marketing at a 9.02% Capitalization Rate on in-place NOI. This provides an investor a potential first year Return On Investment (ROI) of 13%. For an investor looking to experience significant and steady returns in a stable market, The Waterford Apartments can be acquired at an appealing value. Given the strength of the rental market we strongly believe that it is a great time to be an apartment owner.
Waterford is home to 73,473 residents, and is located between Commerce Township and White Lake in Oakland County. The location of the properties is close proximity to expressways, providing easy access to surrounding employment sources and entertainment or shopping destinations. This area has seen growth over the last decade. The demographics continue to improve as this population shift progresses.
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