38579 Wellington Dr - Apartments CONDO FOR SALE


Clinton Township, MI 48036 | 
$525,000 USD
586-995-7664
38579 Wellington Dr, Clinton Township, MI for Sale
$525,000 USD
Apartments CONDO - FOR SALE
1/14
null | Request Cap Rate

38579 Wellington Dr
Clinton Township, MI 48036


HIGHLIGHTS

  • Portfolio of 4 fully occupied condo units
  • New HVAC systems, hot water heaters, carpeting, interior paint, and other updates
  • certain units priced below market rental rates, opportunity for future income growth

OVERVIEW

Investment Opportunity- Wellington Heights Condominiums | Clinton Township, Portfolio of four fully occupied condominium units located in the Wellington Heights community of Clinton Township. Most units have benefited from recent capital improvements, including new HVAC systems, hot water heaters, carpeting, interior paint, and other updates. The portfolio features a long history of stable rental income, with certain units currently leased at below-market rental rates, presenting an opportunity for future income growth. Recent comparable sales within the complex support the individual unit valuations. Seller is a licensed real estate agent/broker.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$481 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

100%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4 Wellington Heights Condo Units

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

4,238 SF

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,425 SF

ZONING

RML

APN/PARCEL ID

16-11-23-256-029

ASK ABOUT THIS PROPERTY

Rob DrewekLino Realty, Inc.More Info
586-995-7664

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Rob DrewekLino Realty, Inc.More Info
586-995-7664

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