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USA Country: USA (97) |
Type: Apartment |

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Found 1 American properties for sale
Studio
Bedrooms
N/A
Baths

Resale
Apartment
(€ 2,839,629  £ 2,592,865)
$ 3,150,000

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Detroit, Michigan USA

Asking: $ 3,150,000

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This is a fantastic opportunity to acquire a quality apartment complex in a popular town in Michigan which is offered for sale in very good condition and benefits from 97% occupancy. The blocks comprise 4 studio apartments averaging 400 sq.ft let at $450 per month, 77 one bedroom apartments averaging 600 sq.ft let at $625 per month and 39 two bedroom apartments averaging 750 sq. ft. let at $750 per month. KEY FINANCIALS: SALES PRICE: $3,150,000 CLOSING COSTS: $25,000 1% AGENCY FEE: 31,500 TOTAL CAPITAL REQUIRED: $3,206,500 GROSS RENTAL INCOME: $950,100 LAUNDRY: $1,650 VENDING MACHINE: $780 PARKING, KET AND PET FEES: $16,400 LESS: 5% VACANCY $47,505 EFFECTIVE OPERATING INCOME: $873,920 EXPENSES/RUNNING COSTS: 10% PROPERTY MANAGEMEN...
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