Airport Apartments 4144 Airport Rd 20 Unité Immeuble d’appartements 3 043 810 $ CAD (152 191 $ CAD/Unité) 7,71% Taux de capitalisation Waterford, MI 48329

Airport Road Apartments is a 20-unit multifamily community situated on Airport Road in Waterford, Michigan — a stable, in-demand submarket within Oakland County. The property consists of two single-story buildings totaling 11,500 square feet, originally constructed in 1954. All 20 units are one-bedroom, one-bathroom floor plans, offering a consistent and easily managed unit mix that appeals to a broad renter demographic. The property is currently operating at 90% occupancy with gross rental revenue exceeding $17,000 per month, reflecting strong baseline demand. Current rents range from $925 to $975 per month, while market comparables suggest rents of $995 to $1,095 per month are achievable — representing meaningful upside for a new owner willing to execute modest lease-up and repositioning. The current NOI stands at $169,594, supporting a 7.71% cap rate at the asking price of $2,200,000 ($110,000/unit).