$1925000

Country Club Manor
  • Units: 156
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: $12,340
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1965
  • Monthly Income Per Unit: $475.80
  • Expense to Income Ratio: 78.72 Percent
  • Average Square Feet: 134,680
  • Debt Service Coverage: 1.65
  • Cash Flow: 74,935
  • ROI Year One: 16.65
  • Listing Agent: A.J. Beachum, JD
  • Property Features: Country Club Manor Apartments are off located of S. Dort Hwy between Lapeer Rd and E. Atherton Rd, directly adjacent to Flint Golf Club, McKinley Park, and Thread Lake. Country Club Manor lies East of I-475 and South of I-69, making it quick and simple to access all major thorough fares. With its proximity to expressways, Country Club Manor is just a short ride to the Flint Farmers Market (opened June 21st, Click here for article), and the Michigan State University Medical School building. Also notable is Country Club’s proximity to Mass Transportation Authority (MTA), which is the area’s main provider of public transportation. With transportation every hour, this is an especially important feature which caters to student renters, who frequently do not own vehicles. Additionally, a neighboring parcel was recently sold and is being redeveloped as a new senior housing facility. Country Club Manor is a Garden-style apartment complex constructed in 1968 and comprised of spacious units that are ideal for singles or young couples. The unit mix consists of 26 one-bedroom units (780 ft.2) and 130 two-bedroom units (880 ft.2). The tenants are responsible for heat, electricity, and air conditioning. The landlord is responsible for water and sewer charges. Amenities include ample parking, or for a $20 dollar fee, an assigned covered carport, as well as plenty of storage, internet access, and a pet-friendly environment. Notable for investors is the in-place Resident Utility Billing System (RUBS), which greatly reduces utility costs of ownership.
  • Interior Features: -
  • Exterior Features: -

Location


View Larger Map
  • IPO Social Media

    Follow us on Facebook!
    LinkedIn
    Tweet to us!
  • 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