Location

EXECUTIVE SUMMARY:

1000 Merton is located at the corner of Merton and Manderson in historic Palmer Park. The property is comprised of 12 one bedroom units that are approximately 700 square feet and 8 two bedroom units that are approximately 900 square feet. The property was built in 1946 and has been exceptionally well maintained over the years.

2721 W. McNichols is located less than a mile from 1000 Merton in the University District of Detroit. This 23 unit mid century modern property was built in 1953 and just underwent an extensive rehabilitation that included all new common areas, windows, roofs, kitchens, baths, HVAC, plumbing, and electrical. Essentially no stone was left unturned. The property is comprised of all two bedroom units that are approximately 1,000 square feet.

Both properties include ample off street parking for residents and on site laundry facilities. These properties are market rate; however, 1000 Merton’s tenant base is almost entirely made up of agency tenants. This provides ownership with both a combination of strong rents and virtually guaranteed collections through these HUD subsidized housing agencies.