Location

EXECUTIVE SUMMARY:

Marshall Place Apartments is a well-maintained, quiet, multifamily community located on the south side of Marshall Street, two blocks west of Woodward. It is walking distance to the downtown nightlife, with great bars and restaurants. This two building complex was built in 1966 and has a combined 30 units. The property offers a diversified and extremely competitive unit mix comprised of 17 one-bedroom units with approximately 804 sq.ft. of living space, and 13 two-bedroom units with approximately 960 sq.ft. of living space.

The utility breakdown of this property includes tenant-paid electricity, and the Home Owners Association (HOA) is responsible for the water and heat. Each apartment has its own individual gas forced air furnace. The current owners control the homeowner’s association due to their majority interest.