White Lake Portfolio
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White Lake Portfolio
3 Multifamily Properties Offered at $1,600,000 in White Lake, MI
Executive Summary
This property boasts of 12 two-bedroom and one & one-half bath apartment homes,each measuring 1,200 square feet. The White Lake Portfolio was built in 1973-1977 and has been well maintained over the years.
Currently the White Lake Portfolio is operating at 100% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership. Even more impressive than the occupancy is the location of the assets.
IPO has projected an NOI going forward of $113,244 based on street rents and 2023 Profit & Loss schedule. However, there is tremendous upside in year two when the complex is brought up to market, the NOI increases to $127,384. This is an increase of over 12%.
Currently the White Lake Portfolio is operating at 100% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership. Even more impressive than the occupancy is the location of the assets.
IPO has projected an NOI going forward of $113,244 based on street rents and 2023 Profit & Loss schedule. However, there is tremendous upside in year two when the complex is brought up to market, the NOI increases to $127,384. This is an increase of over 12%.
Property Facts
| Price | $1,600,000 | Number of Properties | 3 |
| Price / SF | $71.91 / SF | Individually For Sale | 0 |
| Cap Rate | 7.08% | Total Building Size | 22,250 SF |
| Sale Type | Investment | Total Land Area | 0.96 AC |
| Status | Active |
| Price | $1,600,000 |
| Price / SF | $71.91 / SF |
| Cap Rate | 7.08% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 22,250 SF |
| Total Land Area | 0.96 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 148 Huronview Ct, White Lake, MI 48386 | Multifamily | 4,250 SF | 1965 | - |
| 206 Summit Rdg, White Lake, MI 48386 | Multifamily | 4,800 SF | 1977 | - |
| 150 Summit View Ct, White Lake, MI 48386 | Multifamily | 13,200 SF | 1977 | - |
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White Lake Portfolio
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