1771 E Woodward Heights Blvd - Apartments FOR SALE


Hazel Park, MI 48030
$1,125,000 USD
248-515-2785
1771 E Woodward Heights Blvd, Hazel Park, MI for Sale
$1,125,000 USD
Apartments - FOR SALE
1/3
null | 7% Cap Rate

1771 E Woodward Heights Blvd
Hazel Park, MI 48030


OVERVIEW

1771 E Woodward Heights Apartments consists of 8 units, 4 one-bedroom apartment homes at 688 square feet. and 4 two-bedroom one-bathroom apartment homes at 869 square feet. This property was built in 1970 and has been well-maintained over the years with mature trees and landscaping. 1771 E Woodward Heights Apartments offers quiet living with a community feel. IPO has projected an NOI going forward of $78,799 based on street rents and T-12 December 2024 – November 2025 expenses. However, in year two, when the complex is brought up to market, the NOI increases to $84,825.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$102 USD /SF

# OF UNITS

8

PRICE/UNIT

$140,625

CAP RATE

7%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

14

LAND DETAILS

LAND ACRES

1000 AC

LAND SF

43,560,000 SF

ZONING

RC, Hazel Park

APN/PARCEL ID

25-25-278-029

ASK ABOUT THIS PROPERTY

Bruce ListerIncome Property OrganizationMore Info
248-515-2785

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Bruce ListerIncome Property OrganizationMore Info
248-515-2785

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