423 Washington Apartments – INCOME PROPERTY ORGANIZATION

423 Washington Apartments

Available | $1,050,000

423 Washington St, Monroe, MI 48161
Property Type: Multifamily
Number of Units: 18
Price per Unit: $58,333
Average Square Feet: 585
Gross Rent Multiplier: 6.33
Debt Service Coverage: 1.50
Year One ROI: 6.63%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

423 Washington Apartments is comprised of 2 Studios apartment homes at 418 Sq. Ft. and 16 one-bedroom one-bathroom apartments homes at 606 Sq. Ft. It was built in 1929. Currently, the 423 Washington Apartments is operating at 100% physical occupancy and has maintained this level of performance for many years. Perhaps even more impressive than this asset’s occupancy is the location of this asset.

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

Managing Broker, Florida | Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio