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1771 E Woodward Heights Blvd 8 Unit Apartment Building $1,557,461 CAD ($194,683 CAD/Unit) 7% Cap Rate Hazel Park, MI 48030
EXECUTIVE SUMMARY
1771 E Woodward Heights Apartments consists of 8 units, 4 one-bedroom apartment homes at 688 square feet. and 4 two-bedroom one-bathroom apartment homes at 869 square feet. This property was built in 1970 and has been well-maintained over the years with mature trees and landscaping. 1771 E Woodward Heights Apartments offers quiet living with a community feel.
IPO has projected an NOI going forward of $78,799 based on street rents and T-12 December 2024 – November 2025 expenses. However, in year two, when
the complex is brought up to market, the NOI increases to $84,825.
IPO has projected an NOI going forward of $78,799 based on street rents and T-12 December 2024 – November 2025 expenses. However, in year two, when
the complex is brought up to market, the NOI increases to $84,825.
PROPERTY FACTS
| Price | $1,557,461 CAD | Building Class | C |
| Price Per Unit | $194,683 CAD | Lot Size | 1,000.00 AC |
| Sale Type | Investment | Building Size | 11,000 SF |
| Cap Rate | 7% | Average Occupancy | 88% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RC, Hazel Park | ||
| Price | $1,557,461 CAD |
| Price Per Unit | $194,683 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1,000.00 AC |
| Building Size | 11,000 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RC, Hazel Park |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 688 |
| 2+1 | 4 | - | 869 |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 25-25-278-029 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $280,122 CAD |
PROPERTY TAXES
Parcel Number
25-25-278-029
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$280,122 CAD
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1771 E Woodward Heights Blvd
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