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Remar Apartments 16551 E 12 Mile Rd 8 Unit Apartment Building $1,640,206 CAD ($205,026 CAD/Unit) 6.33% Cap Rate Roseville, MI 48066
EXECUTIVE SUMMARY
Remar Apartments are located in Roseville, a friendly community within walking distance to shopping, banks, parks, and a great school district. The
complex was built in 2003 and has been well-maintained over the years. It contains 8 apartment homes: 8 two-bedroom, one-bath units, each measuring 860
square feet.
Remar Apartments 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 this asset’s occupancy is the location of the asset.
IPO has projected an NOI going forward of $74,402 based on street rents and the 2024 P&L. However, in year two, when the complex is brought up to market, the
NOI increases to $77,741.
complex was built in 2003 and has been well-maintained over the years. It contains 8 apartment homes: 8 two-bedroom, one-bath units, each measuring 860
square feet.
Remar Apartments 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 this asset’s occupancy is the location of the asset.
IPO has projected an NOI going forward of $74,402 based on street rents and the 2024 P&L. However, in year two, when the complex is brought up to market, the
NOI increases to $77,741.
PROPERTY FACTS
| Price | $1,640,206 CAD | Building Class | B |
| Price Per Unit | $205,026 CAD | Lot Size | 0.68 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 6.33% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 4/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-1 - Multiple-family residential (low-rise) | ||
| Price | $1,640,206 CAD |
| Price Per Unit | $205,026 CAD |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.68 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2002 |
| Parking Ratio | 4/1,000 SF |
| Zoning | RM-1 - Multiple-family residential (low-rise) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Wheelchair Accessible (Rooms)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 8 | - | 750 |
1 1
PROPERTY TAXES
| Parcel Number | 08-14-07-452-024 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $351,432 CAD |
PROPERTY TAXES
Parcel Number
08-14-07-452-024
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$351,432 CAD
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Remar Apartments | 16551 E 12 Mile Rd
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