$1000000

Crooks & Normandy Apartments
  • Units: 14
  • Cap Rate: 7 Percent
  • Price Paying: 121 sqft
  • Price Per Unit: $71429
  • Property Type: Multi Family
  • Gross Rent Multiplier: 9.58
  • Year Built: 1955
  • Monthly Income Per Unit: $416
  • Expense to Income Ratio: -
  • Average Square Feet: 675
  • Debt Service Coverage: 1.36
  • Cash Flow: 18694
  • ROI Year One: 7.4
  • Listing Agent: Greg Coulter
  • Property Features: Located in Royal Oak, these 14 units pose as a fantastic value-add opportunity. Normandy is located directly across from Elf Park, which hosts youth sports for local residents as well as a quiet playground for the children. With units averaging 675 sq ft and average rents of $650 per month, these are drastically under market and are prime assets for a renovation under new ownership.
  • 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