Holiday Manor East – INCOME PROPERTY ORGANIZATION

Holiday Manor East

Holiday Manor East

SOLD: $4,500,000

16435 E. 12 Mile, Roseville, MI 48066
Property Type: Multifamily
Number of Units: 60
Average Square Feet: 687
Price Per Unit: $75,000
Cap Rate: 6.41% Gross Rent Multiplier: 8.23
Expense to Income Ratio: 47.19%
Debt Service Coverage: 1.34
Cash Flow: $73,632
Year One ROI: 6.55%

Listing Agent: Jason Gardner

Location

EXECUTIVE SUMMARY:

Holiday Manor East consists of two California Style apartment buildings located in Roseville, MI. The property is located on the north side of 12 Mile and East of Groesbeck. It consists of 34 one bed/one bath units, and 26 two bed/one bath units, totaling 60 units. Landlord is responsible for water and gas while the tenants are responsible for electricity.

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