$1325000

New Amadore
  • Units: 63
  • Cap Rate: 10.42 Percent
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1929
  • Monthly Income Per Unit: $436.39
  • Expense to Income Ratio: 58.15 Percent
  • Average Square Feet: 39,975
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: 16.50
  • Listing Agent: A.J. Beachum
  • Property Features: Income Property Organization is pleased to present New Amadore Apartments, which consists of 63 units, and is located in Saginaw, Michigan. New Amadore is a handsome, mid-rise building with 63 unique units. It was constructed in 1929 and possesses exceptional charm as a result of its original architecture. The building contains a balanced unit mix of spacious studios and one-bedroom units, plus one two-bedroom unit. We feel this unit mix is favorable for the renter profile of the downtown market plus the potential medical student market to be captured, as described within. New Amadore is outfitted with Landlord-paid, hot-water baseboard heating system and the electricity is separately metered. The boiler system has seen approximately $20,000 in capital improvements in recent years. Amenities at the property include an attached parking garage, courtyard with community garden, on-site laundry, vending machines, and tenant storage.
  • Interior Features: -
  • Exterior 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.
  • Contact Us

    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301