Maplewood Manor

Sold | $3,225,000

Garden City, MI | Units: 40 | Price Per Unit: $80,625 | Avg Sq Ft: 517 | GRM: 7.92 | DSC: 1.59 | Year 1 ROI: 10.05% | Listing Agent: J.J. Zwada

Location

Executive Summary

Maplewood Manor offers a selection of one-bedroom apartments, ranging from 450 to 735 square feet. The property is comprised of ranch-style buildings that were built in 1954 and a two-story, California style building constructed in 1970. The property has been well maintained over the years and last year underwent a $300,000 renovation that included the upgrade of 23 units with new kitchens, baths, flooring and fixtures. These renovated units command $30-$50 more in rent compared to standard units.