Sterling Court Apartments

Sold | $3,300,000

Sterling Heights, MI | Units: 48 | Price Per Unit: $68,750 | Avg Sq Ft: 775 | GRM: 9.19 | DSC: 1.45 | Listing Agent: A.J. Beachum, J.D.

Location

Executive Summary

Sterling Court is comprised of 2 two-story low-rise buildings built in 1980. Each building contains 24 one-bedroom units (750 & 850 sq ft). Notable for investors is the occupancy, which is currently 100% on a pre-leased basis. Strong occupancy such as this is mainly because Sterling Court advertises itself with its exceptional location and ample frontage on Van Dyke Freeway, which is a major thoroughfare connecting Canal Road and Hall Road (two major arteries in the area).