Legacy Pointe Villas – INCOME PROPERTY ORGANIZATION

Legacy Pointe Villas

Legacy Pointe Villas

SOLD: $1,400,000

28129 Franklin Rd., Southfield, MI 48034
Property Type: Multifamily
Number of Units: 13
Price Per Unit: $107,692
Average Square Feet: 1,200
Gross Rent Multiplier: 7.24
Expense to Income Ratio: 43.93%
Monthly Income Per Unit: $1,328
Debt Service Coverage: 1.66
Cash Flow: $46,026
Year One ROI: 12.27%

Listing Agent: A.J. Beachum, J.D.

Location

EXECUTIVE SUMMARY:

Legacy Pointe Villas is comprised of a 13-unit townhome-style building with individual parcel identification built in 1972, located just west of Franklin Road and on the south side of Franklin Pointe Drive. It offers a unit mix of 13, two-bedroom and one and a half-bath townhouse-style units with approximately 1,282 sq.ft. of living space. The units are furnished with high end cupboards, granite counter tops, and stainless steel appliances. Notable for investors is the occupancy, which is currently at 100%, and the value-add potential by increasing the currently under market rents.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio