59345 Van Dyke Rd - Apartments FOR SALE


Washington, MI 48094
$839,000 USD
248-722-9286
59345 Van Dyke Rd, Washington, MI for Sale
$839,000 USD
Apartments - FOR SALE
1/2
null | 8.22% Cap Rate

59345 Van Dyke Rd
Washington, MI 48094


HIGHLIGHTS

  • Prime area of higher end new developments
  • Rents are currently month-to-month and below market
  • Recent renovated and leased units support pro forma rent

OVERVIEW

Prime 8 unit multifamily, 100% leased and surrounded by new, higher end development. Plenty of room for upside. Recent improvements with newer boiler, 2 renovated units and EV chargers pending. 6 units are presently below market, but month-to-month tenancy, can be re-leased at $960+ (achieved in most recent lease) to get to pro forma cap rate of 8.22.

FOR SALE DETAILS

PRICE

$839,000 USD

PRICE/SF

$150 USD /SF

# OF UNITS

8

PRICE/UNIT

$104,875

CAP RATE

8.22%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

V-1

APN/PARCEL ID

24-04-28-476-005

ASK ABOUT THIS PROPERTY

Bob WaunDirt RealtyMore Info
248-722-9286

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Bob WaunDirt RealtyMore Info
248-722-9286

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.