Dixie Efficiency Apartments – INCOME PROPERTY ORGANIZATION

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Dixie Efficiency Apartments

Available | $500,000

16001 Dixie Hwy, Groveland Twp, MI 48442
Property Type: Multifamily
Number of Units: 9
Price Per Unit: $55,556
Average Square Feet: 240
Expense to Income Ratio: 56.38%
Debt Service Coverage: 1.21
Year One ROI: 5.14%

Listing Agent: A.J. Beachum, J.D.

Location

EXECUTIVE SUMMARY:

Dixie Efficiency Apartments boasts 9 efficiency units, approximately 240 sq.ft. each. Currently Dixie Efficiency is operating at 100% physical occupancy and has maintained this level of performance for many years. The property’s rents are significantly below market as a result of being conservatively owned and operated by the same family for many years. The improved rents ownership is achieving on renewals and new leases are impressive. The property has landlord paid electricity, cable, trash and heat with a boiler system powered by propane.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio