$1100000

Rest All Suites
  • Units: 36
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1988
  • Monthly Income Per Unit: $571.20
  • Expense to Income Ratio: 47.39 Percent
  • Average Square Feet: 12,960
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: -
  • Property Features: Rest All is garden-style complex, divided into three buildings, spread across approximately 1.23 acres of land and was constructed in 1988. The buildings contain 36, studio units (360 ft.2), and come fully furnished. The neat aspect of Rest All is that it is outfitted with Landlord-paid utilities, plus cable and internet, which enables tenants to pay only one bill per month. Amenities at the property include tenant storage and ample parking. Rest All have been substantially updated with the current owner and this offering represents a turn-key investment for a multifamily investor. Additionally, Rest All’s are located less than 10 miles away from MBS International Airport, which services more than 250,000 passengers a year. Rest All’s have undergone major capital expenditures. The current ownership has updated the kitchens, living rooms and baths, including new flooring, new counter tops and cabinets, appliances, furniture, water heaters, Zoneline systems and roofs. The living rooms are fully furnished with murphy beds, couches, dressers and come with cable and internet. A majority of the kitchens have been redesigned with new counter tops, cabinets and appliances to maximize square footage in the units. Additionally, there have been improvements to the grounds, new roofs and the owners have built an out-building, which is designed for maintenance supplies and work area, and an area designed as a future laundry facility. The current ownership has invested over $250,000 into the property, over the past few years.
  • Interior Features: -
  • Exterior Features: -

Location


View Larger Map
  • IPO Social Media

    Follow us on Facebook!
    LinkedIn
    Tweet to us!
  • 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