Maple Ranch Apartments – INCOME PROPERTY ORGANIZATION

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Maple Ranch Apartments

Available | $1,950,000

23001 W 14 Mile Road, Royal Oak, MI 48073
Property Type: Multifamily
Total Number of Units: 13
Average Square Feet: 742
Price Per Unit: $150,000
Gross Rent Multiplier: 11.44
Expense to Income Ratio: 42.68%
Debt Service Coverage: 1.05
Year One ROI: 0.63%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

BID DEADLINE: April 15, 2026

Maple Ranch Apartments are located in Royal Oak, a friendly community, within walking distance of shopping, banks, parks, and a great school district. The complex was built in 1960 and has been well-maintained over the years with mature trees and landscaping. It contains 13 apartment homes: 12 one-bed / one-bath units each measuring 700 square feet, and 1 two-bed / one-bath unit measuring 1,250 square feet. All new windows and roofs were installed within the last 10 years, and electrical panels were also upgraded. This property has a large value-add opportunity by increasing the rents to market rents.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Managing Broker, Florida | Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio