Village Court Apartments – INCOME PROPERTY ORGANIZATION

Village Court Apartments

Village Court Apartments

SOLD: $1,475,000

72 Village Ct., Ortonville, MI 48462
Property Type: Multifamily
Number of Units: 16
Average Square Feet: 880
Expense to Income Ratio: 45.04%
Monthly Income Per Unit: $896.53
Debt Service Coverage: 1.40
Year One ROI: 7.20%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

Village Court Apartments is a well-maintained, quiet, multi-family community on the northeast corner of Village Court and Hummer Lake Road. There are 4 buildings which were built in 1970 and contain 16 rentable units. The property has a well and septic system. The property is comprised of 16 two-bedroom units with approximately 880 sq.ft. of living space. The landlord is responsible for the water and electric in the common areas and the tenants are responsible for their own electric. The current owner places a high priority on making the Village Court Apartments a welcome place for its residents.

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