Waterford Portfolio is located in Waterford, this friendly community is within walking distance to shopping, banks, parks. The complex was built in 1965 and has been well maintained over the years with mature trees and landscaping. It contains 24 apartments homes: all one-bedroom, one-bath units , each measuring 600-700 square feet. IPO has projected an NOI going forward of $125,177 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 $136,411. Located in a tree-lined neighborhood, these apartments are conveniently located within a short drive or walk to Rite Aid, CVS Pharmacy, and Walgreens. There are also various parks nearby, including Shell Park, Fish Hatchery Park/Waterford Township Historical Society Historic Village, and Drayton Plains Nature Center. Groceries are never a problem with Tenuta's Food Lane and Aldi supermarkets nearby.