Woodside Village

Under Contract | $12,500,000

Rockwood, MI | Units: 128 | Price Per Unit: $97,656 | Avg Sq Ft: 949 | GRM: 7.29 | DSC: 1.48 | Cash Flow: 286,521.00 | Year 1 ROI: 6.55% | Listing Agent: Greg Coulter

Location

Executive Summary

Woodside Village Apartments are located at 21821 Woodruff Road,  just west of I-75. It is comprised of five, garden-style buildings on a 8.9 acre site. The complex was built in 1963 - 1987. This property consists of the following: 42 one-bedroom / one-bath units, each measuring 850 square feet, 42 two-bedroom / one-bath units, measuring 950 square feet, 41 two-bedroom / one-bath units, each measuring 1,010 square feet, 1 two-bedroom / one-bath unit above the clubhouse measuring 950 square feet, 1 two-bedroom / one-bath unit above the garage measuring 950 square feet, and 1 four-bedroom / three and one-half bath home, measuring 2,500 square feet. The apartments have hot-water baseboard heating and through-wall air conditioning. The tenants are responsible for their electricity, and the landlord is responsible for the gas heat, the water, and the common-area electricity.