The Gardens Apartments

The Gardens Apartments
Sold | $3,770,000

Walled Lake, MI | Units: 32 | Price Per Unit: $117,813 | Avg Sq Ft: 725 | GRM: 8.96 | DSC: 1.37 | Year 1 ROI: 5.05% | Listing Agent: Greg Coulter

Location

Executive Summary

The Gardens Apartments have 24 one-bed / one-bath units, each measuring 700 square feet, and 8 two-bed / one-bath units, each measuring 800 square feet. They were built in 1974 and completely rehabbed in 2023. Currently, The Gardens is operating at 96.9% physical occupancy.