44-UNIT RESIDENTIAL PORTFOLIO METRO DETROIT

Michigan

$2,401,000

Details

Price : $2,401,000
Cap Rate : 10.4%
Occupancy : 94%
Status : Available
Property Type : Multi-Family

Investment Highlights

Average Rent of $715/Month at $.89/SF
Portfolio is offered at a 10.4% Cap Rate and 15.7% Gross Yield.
Rental rates throughout the portfolio are 17% below market rates.
Offered at $55k/Home - $62.92/SF Below Replacement Cost and a significant discount to market values.

Description

NNN Investment Advisors is pleased to present the exclusive listing for this 44-Unit Rental Portfolio in Detroit, Michigan.  The portfolio offers an investor immediate cash flow in the Detroit market. Each property has been renovated, compliance certificates issued, and quality tenants placed. Rental rates continue to climb in this submarket and will bring increased cash flow to investors bottom lines over the years.   With a high return and low cost per unit, this portfolio offers a strong value to any residential investor.

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