Address: 15321 E 9 Mile Rd, Eastpointe, MI 48021

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Units: 24

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Cap Rate: –

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Price Paying: –

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Price Per Unit: –

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Property Type: Multi-Family

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Gross Rent Multiplier: –

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Year Built: 1955

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Monthly Income Per Unit: –

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Expense to Income Ratio: 47.76 Percent

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Property Features: PRICE IS DETERMINED BY MARKET. La Mor Plaza has historically performed exceptionally well and is continuing to trend in a positive direction with respect to occupancy and rental rates. Currently the property is operating at 96% occupancy; however, vacancies at this property have historically been virtually non-existent and it is management’s expectation that they will once again be fully occupied within the next month. Ownership has taken considerable steps to strengthen the financial position of this asset and this becomes evident when reviewing its historical operating history. Upon a detailed review of the Rent Roll, IPO has learned that average occupied rental rates at La Mor Plaza average 86¢ per square foot for one-bedroom units and 89¢ per square foot for two-bedroom units. Noteworthy for investors is the established monthly water surcharge that ranges between $25-$35/unit and provides an excellent source of additional revenue.

Interior Features: –

Exterior Features: –

PRICE IS DETERMINED BY MARKET.