$8975000

South Central Michigan Portfolio
  • Units: 283 total
  • Cap Rate: 8.09 Percent
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: 5.34
  • Year Built: -
  • Monthly Income Per Unit: -
  • Expense to Income Ratio: -
  • Average Square Feet: -
  • Debt Service Coverage: 1.79
  • Cash Flow: 321,301
  • ROI Year One: -
  • Listing Agent: Joe Crane
  • Property Features: Income Property Organization is pleased to present the exclusive marketing of the South Central Michigan Multifamily Portfolio “Portfolio”, which consists of five apartment communities totaling 283 units, and is located in Jackson, Marshall, Hillsdale, and Tecumseh, Michigan. This offering is comprised of five apartment communities: Hidden Pines Apartments (95 units) and Meadowood Apartments (47 units) of Jackson, Ashgrove Apartments (52 units) of Marshall, Apple Run Apartments (40 units) of Hillsdale, and Stonehenge Apartments (49 units) of Tecumseh. The portfolio is well diversified in terms of unit mix, ranging from studios to two-bedroom units. With respect to financial performance, the Portfolio is performing exceptionally well and each property is continuing to trend in a positive direction with respect to occupancy and rental rates. Currently the Portfolio as a whole is operating at 96% physical occupancy and 92.5% economic occupancy. As a result of numerous capital improvements being completed over the last few years and aggressive leasing, it is our expectation that the Portfolio is poised for substantial income growth in the coming years.
  • 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