$250000

170 Francis Lane Ortonville MI 48462
  • Units: 6
  • Cap Rate: 8% Percent
  • Price Paying: $69.44 sqft
  • Price Per Unit: $41,667
  • Property Type: Multi Family
  • Gross Rent Multiplier: 6.98
  • Year Built: 1963
  • Monthly Income Per Unit: $497.69
  • Expense to Income Ratio: 44.20% Percent
  • Average Square Feet: 83.33
  • Debt Service Coverage: $1.60
  • Cash Flow: $7,489
  • ROI Year One: 11.98%
  • Listing Agent: A.J. Beachum, JD
  • Property Features: Francis Lane is a garden-style complex built in 1963. It offers six one-bedroom units with approximately 600 ft.2 of living space. The historical occupancy is excellent, which has remained above 95% for many years. Francis provides landlord-paid hot-water baseboard heat. Francis Lane is a short distance to I-75 as well as I-69, and provides tenants with numerous retail, educational, recreational and entertainment opportunities that are close to home. Francis Lane represents a turn-key asset for a multifamily investor.
  • 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