Location
Executive Summary
Cornerstone and its 473 units are situated along West Chicago Road, just west of the Southfield Freeway in Detroit. This garden and townhome-style community was built in 1956 and has received numerous updates in recent years including the complete rehabilitation of numerous units, new roofs, water heaters and parking lots. Ownership currently maintains a unit enhancement program; whereby they are upgrading units over time out of the properties existing cash-flow. To date they have upgraded 116 units and this program has proven to be incredibly successful as they’re able to command a considerably higher rent on these upgraded units.