11429 Frey Court Active Save Request In-Person Tour Request Virtual Tour
Whitmore Lake,MI 48116
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
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