One11 Residences – INCOME PROPERTY ORGANIZATION

Exterior 2

One11 Residences

Available | $3,700,000

3382 Harvard, Royal Oak, MI 48073
Property Type: Multifamily
Total Number of Units: 20
Price per Unit: $185,000
Average Square Feet: 460
Gross Rent Multiplier: 11.26
Expense to Income Ratio: 24.43%
Debt Service Coverage: 1.20
Year One ROI: 3.74%

Listing Agent: Jason Gardner

Location

EXECUTIVE SUMMARY:

This community boasts 20 one-bedroom and one-bath apartment homes, each measuring 460 square feet. One11 Residences was built in 1954 and has been well maintained over the years with mature trees and landscaping. Currently, One11 Residences is operating at 100% 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 are achieving.

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