11429 Frey Court new Save Request In-Person Tour Request Virtual Tour
Whitmore Lake,MI 48116
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Hamburg Twp
MLS Listing ID 20251038603
Year Built 1965
Annual Tax Amount $5,888
Lot Size 4.050 Acres
Property Description
Rare opportunity to own lakefront rental housing in Livingston County. Situated on approximately four acres with private frontage on Hamburg Lake, this 17-unit apartment community offers a tremendous value add opportunity. The property consists of 4 one-bedroom units, 12 two-bedroom units, and 1 three-bedroom unit, with 15 of the 17 units currently occupied. Average monthly rent across the property is $1,015 per unit. At the current income level, the property is offered at a 9.23% in-place capitalization rate. Comparable sales exceed $100,000 per unit. See offering memorandum for more details.
Location
State MI
County Livingston
Area Livingston County - 40
Zoning Residential
Interior
Heating Forced Air
Exterior
Waterfront Description Lake
View Y/N No
Building
Water Well
Structure Type Vinyl Siding,Wood Siding
Schools
School District Pinckney
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional