$5175000

Westland Park Apartments
  • Units: 158
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: $32753
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1970
  • Monthly Income Per Unit: -
  • Expense to Income Ratio: -
  • Average Square Feet: -
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: Greg Coulter
  • Property Features: Income Property Organization is pleased to present the exclusive marketing of Westland Park Apartments, which consists of 158 units, and is located in Westland, Michigan. Westland Park is situated off of Tami Circle, near the intersection of Cherry Hills Road and Merriman Road, both major transportation thoroughfares in the area. Because of this superior location tenants also enjoy easy access to I-275 and I-94, which are only five miles away. Entertainment opportunities are also prominent in the area, and the property is across the street from Garden City Park and the Birch Hill Country Club. The City of Westland is located in Wayne County, and is home to approximately 80,094 residents. As for the property itself, Westland Park consists of 158 spacious units in ten, 2 ½ -story brick buildings. Amenities include onside laundry, interior entrances, and plenty of parking. The landlord is responsible for the heating and electric bills, thus reducing the monthly amount of utility bills the tenant has to pay. Currently, Westland Park is 92% occupied and is in a position to be cash flow positive from the outset of acquisition. Thus, this asset can be acquired at a very attractive value. The economic reward will be significant for opportunistic investors with sufficient strength to acquire an asset such as Westland Park Apartments in this once-in-a-lifetime buyers’ market.
  • Interior Features: -
  • Exterior Features: -

Location


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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