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Landings Apartments for Sale
25 Leblanc
Ecorse, MI 48229
County: Wayne
18 Units
15,090 sq ft
Occupancy:
94.00%
Price: $670,000
Price Per Unit: $37,222
Cap Rate: 9.40%
Year Built: 1971
Sales Flyer for
Ecorse MI Property
Stable bread
and butter apartment building located across the
street from riverfront park. Recently appraised for
$ 750,000 back in 2007. Family matter forces sale of
property. Great unit mix with all 2 bedrooms except
for 1 unit. Usually property is 100% leased.
Currently, only 1 vacant unit which will be filled
shortly. Upside income potential by converting
master gas meter to individual meters. Each tenant
has own combo gas forced air & A/C unit.
Plenty of
parking for tenants and guests. Onsite laundry
facilities. Contact list agent for private showings
or questions. Confidential Sale. Do not approach
tenants or management. See detailed property flyer
for more info.
All 2 bedrooms except 1 unit - Only 1
vacancy
Stable investment with upside potential - Located across street
from riverfront park
Appraised for $750,000 in 2007 !! $80,000 in IMMEDIATE EQUITY
Financial Summary Actual
Year: 2007
Scheduled Gross Income: $123,900
Effective Gross Income: $119,551
Operating Expenses: $56,326
Net Operating Income: $63,225
Unit Mix Information
2 Bedroom 1 Bath
No. Units: 17
SF: 700
Avg. Mo. Rent: $575
1 Bedroom 1 Bath
No. Units: 1
SF: 600
Avg. Mo. Rent: $550
call Josh Otting at (248)
538-0234 Ext: 305
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Apartment Investments
A Great New Book Full of What Investors
Need to Know.
Comment
Dear
Richard,
Thank You very much for your help on the
financing. The rate turns out to be better than
expected...
Joe D.
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