Maynard Court Apartments, built in 1926, are compromised of two townhouse style buildings on a 0.48 acre site. They are brick constructed with a combination of hi-pitch (asphalt) and flat (rubberized-torch down) roof lines. The property contains a mix of twelve 1,277 sq. ft. two-bedroom, one bathroom units with walk-out basements. Each apartment is equipped with its own hot water tank and HVAC system. The landlord is responsible for the water, while tenants are responsible for their own gas and electric.
This complex is performing at a high level of operations, with physical occupancy at 92%. When analyzed under average market rents, Maynard Court rents are below market. This provides the owner with a unique opportunity to greatly improve this asset’s cash-flow position without making any financial investment in the property.
Also notable for investors is the excellent positioning and condition of this asset. From this location, tenants can easily walk to downtown Pontiac where they can explore restaurants, merchants, local businesses, and community events all within the historic area.