$2215000

Woodcreek Apartments
  • Units: 64
  • Cap Rate: -
  • Price Paying: -
  • Price Per Unit: -
  • Property Type: Multi Family
  • Gross Rent Multiplier: -
  • Year Built: 1970
  • Monthly Income Per Unit: $560.03
  • Expense to Income Ratio: 47.08 Percent
  • Average Square Feet: 58,880
  • Debt Service Coverage: -
  • Cash Flow: -
  • ROI Year One: -
  • Listing Agent: Greg Coulter
  • Property Features: The 64 unit Woodcreek Apartments were built in 1970 and consist of five low-rise style buildings. The property contains a very attractive unit mix and is entirely comprised of 920 ft.2 two-bedroom/one-bath units. Notable for investors is the utility breakdown of this property which is predominately tenant-paid. Specifically, the heat is supplied by a tenant-paid, electric-baseboard radiators and in-unit electricity is also separately-metered and the responsibility of the tenant. The hot-water at the property is supplied by gas-water heaters and is the responsibility of the landlord; however, a cost conscious investor could easily implement a water surcharge and pass the majority of this expense onto the tenant.
  • 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