Lux off Washington – INCOME PROPERTY ORGANIZATION

1305-Washington-Ave-Bay-City-MI-Aerial-4-LargeHighDefinition

Lux off Washington

Available | $3,350,000

1305 Washington Ave, Bay City, MI 48708
Property Type: Multifamily
Total Number of Units: 42
Price Per Unit: $79,762
Average Square Feet: 246
Gross Rent Multiplies: 7.22
Debt Service Coverage: 1.59
Cash Flow: $98,839
Year One ROI: 8.43%

Listing Agent: Caleb Smith

Location

SUMMARY:

Lux off Washington has 42 units; 40 studio units, 1 one-bedroom / one-bathroom unit, and 1 two-bedroom / one-bathroom unit. These unit types measure 220-250, 368, and 1,050 square feet respectively. The property was built in 1960. Currently Lux off Washington is operating at 100% physical occupancy and has maintained this level of performance in recent months, requiring only minimal management oversight from ownership.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Managing Broker, Florida | Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio