Renaissance Townhomes

Renaissance Townhomes
Under Contract | $3,750,000

Pontiac, MI | Units: 56 | Price Per Unit: $66,964 | Avg Sq Ft: 1,023 | GRM: 5.54 | DSC: 1.67 | Cash Flow: 132,937.00 | Year 1 ROI: 10.13% | Listing Agent: Greg Coulter

Location

Executive Summary

Renaissance Townhomes consists of 56 units: 52 two-bedroom, one-bath units, each measuring 1,001 square feet, and 4 three-bedroom, one-bath units, each measuring 1,310 square feet. The complex is currently 76.8% occupied. Renaissance Townhomes offers affordable, quiet living with a community feel.

This property is a Low-Income Housing Tax Credit (LIHTC) property. The Regulatory Agreement was placed on this property on 12/8/07, and the compliance period will run for 15 years, 12/8/22. The extended use period will run 30 years following the compliance period 12/8/52.