33
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$1,500,000
Est. payment /mo
17 Baths
12,400 SqFt
Pending
11429 Frey Court Whitmore Lake, MI 48116
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 12,400 sqft
Price per Sqft $120
MLS Listing ID 60938621
Style 1 Story
Full Baths 17
Year Built 1965
Annual Tax Amount $5,888
Lot Size 4.050 Acres
Acres 4.05
Lot Dimensions Irregular
Property Sub-Type Multi-Family
Property Description
Rare opportunity to own lakefront rental housing in Livingston County. Situated on approximately four acres with private frontage on Hamburg Lake, this 17-unit apartment community offers a tremendous value add opportunity. The property consists of 4 one-bedroom units, 12 two-bedroom units, and 1 three-bedroom unit, with 15 of the 17 units currently occupied. Average monthly rent across the property is $1,015 per unit. At the current income level, the property is offered at a 9.23% in-place capitalization rate. Comparable sales exceed $100,000 per unit. See offering memorandum for more details.
Location
State MI
County Livingston
Area Hamburg Twp (47007)
Zoning Residential
Interior
Interior Features Cable/Internet Avail.
Heating Forced Air, Other-See Remarks
Fireplace No
Exterior
Exterior Feature Vinyl Siding, Wood
Building
Story 1 Story
Foundation Crawl, Slab
Water Private Well
Structure Type Vinyl Siding,Wood
Schools
School District Pinckney Community Schools
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by OakPointe Real Estate Advisors
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