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Whitmore Lake,MI 48116
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Hamburg Twp
Subdivision Hamburg Twp
MLS Listing ID 20251038603
Year Built 1965
Annual Tax Amount $5,888
Lot Size 4.050 Acres
Acres 4.05
Lot Dimensions Irregular
Source Realcomp
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
Direction West of Whitmore Lake south of Brighton.
Rooms
Basement Crawl Space,Slab
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
Tax ID 1536100082
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional