$605000

Flushing Village
  • Units: 16
  • Cap Rate: 10.44 Percent
  • Price Paying: 79.88 sqft
  • Price Per Unit: $37,812.5
  • Property Type: Multi Family
  • Gross Rent Multiplier: 6.01
  • Year Built: 1964
  • Monthly Income Per Unit: $554.06
  • Expense to Income Ratio: 37.28% Percent
  • Average Square Feet: 500
  • Debt Service Coverage: 2.05
  • Cash Flow: $34,111
  • ROI Year One: 24.35%
  • Listing Agent: A.J. Beachum, JD
  • Property Features: Flushing Village is a well-maintained community of sixteen apartments, all single story walk-up with private entrances and balconies in back. The unit mix contains all one-bedroom units (500 sq ft), with 15 of 16 units upgraded. The property has undergone a complete renovation over the past few years. Recent capital improvements include new roof, parking lot and landscaping, windows, door walls, vinyl siding, soffits, fascia, shakes, mailboxes, kitchens, bathrooms, hot-water heaters, and unit interiors have also been renovated with flooring, paint, and fixtures. The HVAC is outfitted with Landlord-paid, gas hot-water baseboard heat, and separately-metered, tenant-paid electric sleeve A/C units for all sixteen units. Private balconies are an attractive amenity for the residents.
  • 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