Z on Maple Apartments – INCOME PROPERTY ORGANIZATION

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Z on Maple Apartments

Available | $4,249,000

629 W Maple Rd, Clawson, MI 48017
Property Type: Multifamily
Total Number of Units: 25
Average Square Feet: 960
Gross Rent Multiplier: 9.86
Expense to Income Ratio: 34.95%
Debt Service Coverage: 1.46
Year One ROI: 5.92%

Listing Agent: Greg Coulter

Location

EXECUTIVE SUMMARY:

Z on Maple has 24 two-bedroom / one-bath units each measuring 925 – 1,100 square feet, and 1 three-bedroom / one and one-half bath units measuring 1,200 square feet. It was built in 1958, and is currently operating at 92% physical occupancy. Even more impressive than this asset’s occupancy is the condition of the asset. The recent Cap Ex includes: both roofs within the last 2 years, 90% of the units over the last 10 years, all new electrical panels, parking lot was resealed last year.

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