9087 Harper St - Apartments FOR SALE


Linden, MI 48451
$3,200,000 USD
248-515-2785
9087 Harper St, Linden, MI for Sale
$3,200,000 USD
Apartments - FOR SALE
1/65
null | 7.18% Cap Rate

9087 Harper St
Linden, MI 48451


OVERVIEW

Pinehurst Apartments are located in Linden, this friendly community is within walking distance to shopping, banks, parks. The complex was built in 1992 and has been well-maintained over the years with mature trees and landscaping. It contains 32 apartments homes: 4 one-bedroom, one-bath units, each measuring 680 square feet & 28 two-bedroom, one-bath units, each measuring 800 square feet. It contains a house measuring 612 Square Feet, and a barn measuring 700 Sq. Ft. IPO has projected an NOI going forward of $229,767 based on street rents and the market rate expenses. However, in year two, when the complex is stabilized and brought up to market, the NOI increases to $246,066.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

34

PRICE/UNIT

$94,118

CAP RATE

7.18%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pinehurst Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1992

PARKING SPACES

68

LAND DETAILS

LAND ACRES

6.41 AC

LAND SF

279,220 SF

ZONING

RM

APN/PARCEL ID

01-34-527-059

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 Policy.