Woodlawn Apartments – INCOME PROPERTY ORGANIZATION

IMG_8269 EDIT

Woodlawn Apartments

UNDER CONTRACT

405 E Woodlawn Ave, Hastings, MI 49058
Property Type: Multifamily
Number of Units: 16
Price Per Unit: $75,000
Average Square Feet: 788
Gross Rent Multiplier: 7.06
Debt Service Coverage: 1.19
Cash Flow: $13,824
Year One ROI: 4.61%

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

Location

EXECUTIVE SUMMARY:

Woodlawn Apartments is a 16-unit, garden-style community located at 405-409 E Woodlawn Ave in Hastings, Michigan. The property consists of 2 two-story apartment buildings with a total of 2 one-bedroom units, 14 two-bedroom units, and ample parking and carports available for residents. Featuring reinforced concrete foundation, brick exterior, and low-pitch roofs, the buildings were constructed in 1965 on a 1.67-acre site. There are convenient common entrances from both the front and rear of each building with coin-operated laundry available for residents.

Woodlawn Apartments have been well-maintained with numerous capital improvements completed including two new roofs. This offering represents a turn-key investment for a multifamily investor.

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