11429 Frey CT Pending Save Request In-Person Tour Request Virtual Tour
Whitmore Lake,MI 48116
$ 1500000
- Bed
17 Baths
12400 SqFt
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Pending
Purchase Type For Rent
Square Footage 12,400 sqft
Subdivision Island Lake Colony Sub
MLS Listing ID 20251038603
Style Cottage
Full Baths 17
Year Built 1965
Lot Size 4 Sqft
Property Sub-Type MultiFamily
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 Area01151Hamburgtwp
Interior
Heating ForcedAir, OtherHeatingSource
Exterior
Pool None
Utilities Available AboveGroundUtilities, CableAvailable
Waterfront Description AcrosstheRoadWaterFrontage, BeachAccess, BeachFront, DockFacilities, LakeFront, NoMotorLake, PrivateWaterFrontage, Waterfront
View Y/N No
Roof Type Asphalt
Building
Foundation CrawlSpace, Slab
Sewer SepticTank
Water Well
Schools
School District Pinckney
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard