Location
Executive Summary
Fairlane Apartments are located in Taylor, MI. This friendly community is within walking distance of shopping, restaurants, banks, and parks, and is situated near The Henry Ford Museum, UofM Dearborn, Wayne County Community College, and the Detroit Metro Airport. Easy access to I-94 provides a link to other major highways as well as a direct route to Downtown Detroit.
The complex was built in 1958 and 1960 and has since been well maintained. Fairlane contains 204 apartment homes: 111 one-bed / one-bath units (660 sf), 61 two-bed / one-bath units (820 sf), 24 two-bed / one-bath townhomes (990 sf), and 8 larger two-bed / one-bath townhomes (1,100 sf).
This complex presents a great opportunity:
- Attractive price per unit
- Institutionally maintained asset with $2.8M in capital expenditures over the past 4.5 years
- Proven value-add opportunity - 126 unrenovated units, presenting meaningful upside to the next owner
To view drone video of the property, please click HERE.