$925000

North Shore Apartments
  • Units: 19
  • Cap Rate: -
  • Price Paying: 74 sqft
  • Price Per Unit: $48,684
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1950
  • Monthly Income Per Unit: -
  • Expense to Income Ratio: -
  • Average Square Feet: 657
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: Bruce Lister
  • Property Features: Grand Haven North Shore Apartments has a total of 19 units, comprised of: studio, 1 bedroom and 2 bedroom, and 2 houses. The units range from 210 to 650 square feet and the two houses and an office combined are 5,900 square feet. Currently, Grand Haven North Shore Apartments is operating at 100% occupancy, with the profile of the tenants being Business Owners, Doctors, Engineers, Scientists, Marketing, Office & Plant Personnel & Retirees. The landlord is responsible for water, gas and electric as it relates to the 17 rental units. The landlord is responsible for the water as it relates to the 2 rental homes. The owner has also provided a common area for tenants to do their laundry. The rents for this property are currently below the market average, giving any potential buyer room to raise rents over time. The owner has taken great pride in this property by making significant capital improvements.
  • 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.
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    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301