930 Goddard Rd
Lincoln Park, MI 48146
Indian Village Apartments · Multifamily Property For Sale · 152 Units

Well located multifamily property in the stable bedroom community of Lincoln Park. Property has maintained high occupancy for many years evidencing substantial demand in the area. Limited buildable land presents high barriers to entry for competition. Unit interiors generally consist of the original interior components that have been adequately maintained. In 2017, $150,000 in capital improvements were spent replacing many long lived items including roofing, exit doors and stoops, three new heating boilers, 12 new water heaters, and new fire extinguishers. In addition, hard wired carbon monoxide detectors were installed in all buildings, and six units were remodeled. There are 8 units that either have been or are in the process of being renovated with new wood vinyl plank flooring or carpet, new kitchen cabinets and countertops, new appliances as needed, and new vanities in the bathrooms. The remodeled units have very good curb appeal for the market and are able to generate substantially higher rent. Value add opportunity for investor to continue renovations and significantly increase revenue and NOI.