$6898000

Pointe O’ Woods
  • Units: 121
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1969
  • Monthly Income Per Unit: $781.35
  • Expense to Income Ratio: 55.16 Percent
  • Average Square Feet: 121,000
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: J.J. Zwada
  • Property Features: The city of Grand Rapids is located in central Kent County, approximately 25 miles east of Lake Michigan. Grand Rapids is the county seat of Kent County and is the principal city of the Grand Rapids Metropolitan Statistical Area (MSA). As of the 2014 census estimate, the city had a total population of 193,792, while the MSA as a whole was 1,005,648. Grand Rapids is the 2nd largest city in the State of Michigan, and is a progressive and dynamic community with a focus on family-orientation, higher education and healthcare. Grand Rapids is conveniently located with easy access to several major thoroughfares in the area. Several interstates and highways converge on this region, including I-96, I-196, US-131, M-45 and M-121. This excellent location facilitates commutes and enables convenient access to all of metropolitan Grand Rapids for residents and businesses alike. Additionally, Pointe O’Woods is located less than five miles away from Gerald R. Ford International Airport, which serviced more than 2.3 million people in 2015. Pointe O’Woods Apartments is a complex built in 1969, consisting of 12 buildings situated on over 6.37 acres in a park-like setting. The property is tucked back into a neighborhood off Kalamazoo Ave. SE near its intersection with 44th St. SE. It offers 121 two-bedroom units with an impressive 1,000 ft.2 of living space. The property is conveniently located 15 minutes from the heart of downtown Grand Rapids and there is an abundance of retail, educational, recreational, and entertainment opportunities in the immediate area. POIN has been well-maintained and this offering represents an exciting opportunity for a multifamily investor to acquire in the highly coveted Grand Rapids market. The property is outfitted with a gas-forced air heating system (Landlord-paid) and central air. Unit amenities included dishwashers, balconies/patios, breakfast nook & dining room. Community amenities include: a swimming pool, sundeck, private storage, an updated clubhouse, fitness center, and carports.
  • 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