Walnut Creek Apartments

Sold | $5,900,000

Farmington Hills, MI | Units: 60 | Price Per Unit: $98,333 | Avg Sq Ft: 750 | Listing Agent: Greg Coulter

Location

Executive Summary

Walnut Creek Apartments is located on the east side on Middlebelt Road, south of W 10 Mile Road. It is comprised of one garden style building, on a site containing 3.82 acres. It was built in 1978. The property contains 60 one-bedroom units (750 sq.ft.). Currently, the street rents are $840 for a one-bedroom, whereas market rents are $1,013 for one-bedroom units. Each apartment has an individual forced air gas furnace with central air and a water heater. The tenants are responsible for their own gas and electric, and hot water. The landlord is only responsible for the water.