$1180000

Bridgeport Portfolio – 1830 Squire Dr
  • Units: 44
  • Cap Rate: 10.13 Percent
  • Price Paying: 38.60 sqft
  • Price Per Unit: $26,818
  • Property Type: Multi Family
  • Gross Rent Multiplier: 4.46
  • Year Built: 1972
  • Monthly Income Per Unit: $226
  • Expense to Income Ratio: -
  • Average Square Feet: 703
  • Debt Service Coverage: 2
  • Cash Flow: 59655
  • ROI Year One: 20.22
  • Listing Agent: A.J. Beachum, J.D.
  • Property Features: Country Squire is comprised of four low-rise buildings, built in 1972, which is spread across more than 5.33 acres. The buildings have 32 two-bedroom units (660 ft.2), which have either a ground floor patio or balconies for tenants to enjoy. Notable for investors is the occupancy, which is currently at 100%, and is in line with the historical operation of the property which is usually between 95-100%. Strong occupancy such as this is mainly because of the location of the buildings, near the intersection of King Rd. and Williamson Rd., minutes from healthcare, education, shopping, parks, and the library. The amenities at this attractive community include patios/balconies, ample parking, tenant storage, dishwashers, and on-site laundry. Southfield Village is garden-style complex built in 1972, which is spread across half of an acre. The building contain an excellent mix of, 1, one-bedroom (650 ft.2), and 11 two-bedroom units (750 ft.2). Notable for investors is that Southfield has been completely renovated in 2009 and well-maintained since and this offering represents a turn-key investment for a multifamily investor.
  • Interior Features: -
  • Exterior Features: -

Location


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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.
  • Contact Us

    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301