Heatherwood Apartments
  • Units: 75
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: $32,000
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: -
  • Monthly Income Per Unit: -
  • Expense to Income Ratio: -
  • Average Square Feet: -
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  • ROI Year One: -
  • Listing Agent: John Teringo
  • Property Features: Heatherwood is a complex built in 1987, consisting of 13 Ranch-style buildings, spread across more than 11 acres in a park like setting. It offers an excellent mix that attracts the senior renter; 69 one-bedroom (576 ft.2), 2 two-bedroom one bath (864 ft2), and 4 two-bedroom two bath units (864 ft2). Residents of Heatherwood enjoy an abundance of amenities including: a manger who lives on-site, on-site laundry, plenty of green space, as well as ample parking. Heatherwood has been well-maintained and this offering represents an exciting opportunity for a multifamily investor to acquire a truly turn-key asset. Notable for investors is the utility structure of the property, which is outfitted with tenant-paid, forced-air electric heat & air, and tenant-paid hot water (individual tanks). Unit amenities include: private entrances, patios, built-in breakfast bar/bookshelf, attic storage and washer & dryer hookups. Also, current ownership continually invests money into the property, the roofs were done in the mid 2000’s, new siding was completed around the same time, and the parking lot recently was sealed and striped.
  • Interior 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.
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    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301