Location

EXECUTIVE SUMMARY:

Richwood Estates Apartments is located at 18440-18480 14 Mile Road, just east of Groesbeck Highway, on the south side of 14 Mile Road. It is comprised of 3 two-story low rise buildings built in 1990. Each building contains 2 one-bedroom units, 700 sq. ft. and 6 two-bedroom units, 900 sq. ft. Notable for investors is the occupancy, which is currently 100%. Strong occupancy such as this is mainly because Richwood Estates Apartments advertises itself with its exceptional location and ample frontage on 14 Mile Road.

Outside of Richwood Estates Apartments excellent location, the property also offers residents numerous amenities such as: carports, laundry facilities, central air, balconies, and dishwashers. Richwood Estates Apartments is outfitted with tenant-paid gas forced air heat and tenant paid electric. The owner is only responsible for common area electric and water. The owner has made the following capital improvements: Hallway carpet (2014), A/C Units (2), Hot Water Tanks (12), Dishwashers (12), Concrete.