$1200000

Pembrooke Manor
  • Units: 35
  • Cap Rate: 9.64 Percent
  • Price Paying: 48.58 sqft
  • Price Per Unit: $34,286
  • Property Type: Multi Family
  • Gross Rent Multiplier: 4.89
  • Year Built: 1966
  • Monthly Income Per Unit: $584.57
  • Expense to Income Ratio: 52.88 Percent
  • Average Square Feet: 706
  • Debt Service Coverage: 2.04
  • Cash Flow: $59,092
  • ROI Year One: 19.70
  • Listing Agent: Greg Coulter
  • Property Features: Pembrooke is located just off the Southfield Freeway on the Southfield Road service drive, just south of 8 Mile Rd, west of the Lodge Freeway. This excellent Detroit location is just minutes from downtown Detroit and within easy access of two major freeways in the area: M-39 and M-10. Pembrooke is a well-maintained community of 35 apartments in one building, with three floors, all with private entrances, on the corner of 8 Mile Road and the Southfield Freeway. The unit mix contains 35 one-bedroom units (34 at 700 sq ft and 1 at 900 sq ft), 20 units are upgraded. Pembrooke was built in 1966 with a solid concrete slab, and has undergone various recent updates including a new roof, windows, doors, boiler, hot-water tank, and a completely rebuilt catwalk. The HVAC is outfitted with Landlord-paid gas hot-water baseboard heat, landlord-paid water, and tenant-paid, separately-metered electric sleeve units and electricity.
  • 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