Lockwood Apartments

Sold | $6,250,000

Davison, MI | Units: 191 | Price Per Unit: $32,723 | Avg Sq Ft: 458 | Listing Agent: A.J. Beachum, J.D. & Joe Crane

Location

Executive Summary

Lockwood is a Low-Income Housing Tax Credit development that also has a Project-Based HAP contract on 88 units. The complex has maintained outstanding historical occupancy in recent years, requiring only minimal management oversight from ownership. Lockwood represents a well-built, well-located, newer vintage asset with a highly sought after value-add component.