$4550000

Marina Bay Club Apartments
  • Units: 136
  • Cap Rate: 8.92 Percent
  • Price Paying: -
  • Price Per Unit: $33,455
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1978
  • Monthly Income Per Unit: $630.83
  • Expense to Income Ratio: 60.56 Percent
  • Average Square Feet: 147,136
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: Greg Coulter
  • Property Features: Marina Bay Apartments contains 136 rentable units in the downriver community of Gibraltar, which has a population of over 11,000 people. The unit breakdown consists of 112 large, two-bedroom townhouse units and 24 three-bedroom townhouse units. Tenants pay for all utilities except common water. The property has maintained an occupancy level in the high 90's for most of its history. The current street rents are $620 and $750 respectively.
  • 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