$769995

Orchard Lane Manor Apartments
  • Units: 45
  • Cap Rate: 11.13 Percent
  • Price Paying: 25.75 sqft
  • Price Per Unit: $17110
  • Property Type: Multi Family
  • Gross Rent Multiplier: 3.22
  • Year Built: N/A
  • Monthly Income Per Unit: $442.83
  • Expense to Income Ratio: 64.15 Percent
  • Average Square Feet: 664
  • Debt Service Coverage: 2.21
  • Cash Flow: $46,960
  • ROI Year One: 20.33%
  • Listing Agent: A.J. Beachum, JD, John Teringo
  • Property Features: -
  • Interior Features: -
  • Exterior Features: -

Orchard Lane Manor is an attractive mix of apartments and townhomes, which consists of five buildings, and is situated on approximately 2.12 acres of land. The buildings are comprised of 16, one-bedroom units (600 ft.2) and 29, two-bedroom unit (700 ft.2). The investment opportunity is located less than two miles from the CBD, which is experiencing major growth, see below. Additionally the property is located in close proximity to University of Michigan- Flint, Powers Catholic High School, Atwood Stadium, Mott Park, Hurley and McLaren Medical Centers as well as other amenities- providing tenants ample retail, educational, healthcare and entertainment opportunities that are close to home. The property is outfitted with Tenant-paid, gas forced-air furnaces, as well as Tenant-paid electric. Amenities at Orchard Lane include laundry hook-up in each basement, ample parking and plenty of green space.

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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