Location
Executive Summary
Sandstone Apartments, located in Oak Park, MI, is a complex built in 1964, consisting of 1 building located just west of Scotia Road along Nine Mile Road. It offers a unit mix of 22 one-bedroom units with approximately 700 ft.2 of living space, and 24 two-bedroom units with 846 ft.2 of living space. Notable for investors is the occupancy, which is currently at 93.5% and has maintained levels between 90-95% recently. Due to the exceptional location, Sandstone provides tenants with numerous retail, educational, recreational, and entertainment opportunities that are close to home. Sandstone has been well-maintained and this offering represents a turn-key investment for a multifamily investor. The property is outfitted with landlord paid heat & water and tenant-paid electric.