$1950000

Austin View Apartments
  • Units: 48
  • Cap Rate: 7.52 Percent
  • Price Paying: 65.52 sqft
  • Price Per Unit: $40,625
  • Property Type: Multi Family
  • Gross Rent Multiplier: 5.82
  • Year Built: 1978
  • Monthly Income Per Unit: $625
  • Expense to Income Ratio: 56.25% Percent
  • Average Square Feet: 620
  • Debt Service Coverage: 1.50
  • Cash Flow: $51,638
  • ROI Year One: 10.08%
  • Listing Agent: JT Teringo, Joe Crane
  • Property Features: Austin View is a garden-style complex built in 1978 and consists of 3 buildings. It offers a great unit mix of 18, one-bedroom units with approximately 570 ft.2 of living space, and 30, two-bedroom units with approximately 650 ft.2 of living space. Notable for investors is the occupancy which is currently 100% and has maintained levels between 95-100% recently. One reason for that is the location as well as minimal deferred maintenance due to a large amount of capital expenditures that have been completed recently. Austin View is outfitted with landlord-paid hot-water baseboard heat for heating and sleeve units for air conditioning and the electric is tenant-paid. Laundry facilities are located on the property. Austin View is located less than 10 miles from the heart of downtown Kalamazoo. Due to this exceptional location, it provides tenants with numerous retail, educational, recreational, and entertainment opportunities that are close to home. Austin View has been well-maintained and this offering represents a turn-key investment for a multifamily investor.
  • Interior Features: -
  • Exterior Features: -

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  • About Us

    Income Property Organization offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property.
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    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301