Green Pine Acres

Green Pine Acres
Available | $9,500,000

Burton, MI | Units: 162 | Price Per Unit: $58,641 | Avg Sq Ft: 576 | GRM: 6.36 | DSC: 1.27 | Cash Flow: 160,822.00 | Year 1 ROI: 6.77% | Listing Agent: A.J. Beachum, J.D.

Location

Executive Summary

Green Pine Acres has 122 one-bed / one-bath units, 22 upgraded one-bed / one-bath units, each measuring 550 square feet; 6 spacious one-bed / one-bath units measuring 750 square feet, and 12 two-bed / 1.5-bath units. It was built in 1987 and has been well maintained over the years with mature trees and landscaping.

Green Pine Acres is operating at 96.3% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership. Even more impressive than this asset’s occupancy are the improved rents ownership is achieving on renewals and new leases.