Location

EXECUTIVE SUMMARY:

Burgess Apartments is comprised of one garden-style building built in 1968. The buildings contain 1 studio unit (450 sq. ft.), and 16 one-bedroom units (600 sq. ft.). Notable for investors is the occupancy, which is currently 94% pre-leased. Strong occupancy such as this is mainly because Burgess Apartments advertises itself with its exceptional location off Schaefer Highway, where you can easily access I-96 and Southfield Freeway. Outside of Burgess’s excellent location, the property also offers residents numerous amenities such as: on-site laundry facilities, trash removal, and fenced off-street parking. Burgess is outfitted with landlord-paid heat and water. Currently the average rents at Burgess are $500 for the studio unit, and $580 for one-bedroom units, whereas current rents in the surrounding area are set at $555 for studio units, and $646 for one-bedroom units. It is imperative to note, that after a detailed rental study, it has come to our attention that rents at Burgess Apartments are still well below market averages. With occupancy capping 94%, it is clear that a substantial increase in rental rates could easily be implemented by a new owner.

MEET OUR TEAM

GregoryDCoulter

Founder & Managing Member Michigan

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Jason Gardner

Associate Broker, Michigan

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J.J. Zwada

Associate Broker, Michigan | Managing Broker, Indiana

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A J Beachum

Associate Broker, Michigan | Broker, Ohio

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Bruce Lister

Sales Associate Michigan and Ohio

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John Teringo

Sales Associate Michigan and Ohio

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Joseph Crane

Sales Associate Michigan

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Paul McHugh

Sales Associate Michigan and Ohio

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Matt Seeley

Associate Broker, Michigan | Executive Assistant

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Sales Associate, Michigan | Broker, Indiana

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