$520000

Dixie Lake Apartments
  • Units: 9
  • Cap Rate: 7.74% Percent
  • Price Paying: $137.72 sqft
  • Price Per Unit: $57,778
  • Property Type: Multi Family
  • Gross Rent Multiplier: 7.48
  • Year Built: 1950
  • Monthly Income Per Unit: $643.64
  • Expense to Income Ratio: 42.11% Percent
  • Average Square Feet: $428.89
  • Debt Service Coverage: $1.55
  • Cash Flow: $14,227
  • ROI Year One: 10.94%
  • Listing Agent: A.J. Beachum, JD
  • Property Features: Dixie Lake is a ranch-style complex built in 1950 and has seen substantial updates in recent years. It offers a very competitive unit mix with two studio-units with approximately 220 ft.2 of living space, four one-bedroom units with approximately 400 ft.2 of living space, two two-bedroom units with approximately 520 ft.2 of living space, and one three-bedroom unit with approximately 780 ft.2 of living space. Notable for investors is the condition of the building, which has seen considerable capital improvements in recent years. The historical occupancy is excellent, which has remained above 95% for many years
  • 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.
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    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301