$1050000

Brookside Estates
  • Units: 48
  • Cap Rate: 10.59 Percent
  • Price Paying: 23.03 sqft
  • Price Per Unit: $21875.00
  • Property Type: Multi Family
  • Gross Rent Multiplier: 4.53
  • Year Built: 1965
  • Monthly Income Per Unit: $402.23
  • Expense to Income Ratio: 52.02 Percent
  • Average Square Feet: 950
  • Debt Service Coverage: 1.66
  • Cash Flow: 44369.20
  • ROI Year One: 16.90
  • Listing Agent: -
  • Property Features: Income Property Organization is pleased to present the exclusive marketing of Brookside Estates Apartments, which consists of 48- two-bedroom and one bath units, located in Adrian, Michigan. As for the property itself, Brookside Estates is a garden-style property constructed in 1965. This property is has undergone numerous capital improvements done over the course of the last few years. The property is outfitted with an electric-baseboard tenant paid heating system. The property is currently 80% occupied, with rental rates below market. Brookside Estates is a performing asset that can be acquired at an artificially low value due to the significant economic downturn which has compressed value across the nation, and in particular in Michigan. This situation is exacerbated by a lack of available credit, allowing active buyers to acquire properties at deep discounts. The economic reward will be significant for opportunistic investors with ample liquidity to acquire assets such as Brookside Estates in this once-in-a-lifetime buyer’s market. Once you have had a chance to review the included information please call to set up a confidential showing before this aggressively priced opportunity is gone.
  • 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.
  • Contact Us

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