30625 Martindale RdNew Hudson, MI 48165

Property Details for 30625 Martindale Rd

Year built

1978

Lot size

3.00 AC

Property size (Sq ft)

7,400 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

Exceptional value-add opportunity presented by this eight-unit multifamily property, comprised of two-bedroom townhomes, each averaging 1,050 square feet. Located in desirable Oakland County, Michigan, this property boasts a 100% occupancy rate (as of May 31, 2024) and a strong 7% cap rate. The 7,400 square foot complex sits on a 3-acre lot, offering ample green space and 20 parking spaces. Built in 1978 and renovated in 2023, the property features two buildings, each two stories high, with low-maintenance exteriors and private entries, covered porches, and patios for each unit. All units include in-unit washer/dryer hookups. The property is currently serviced by a well and septic system, although public utilities are available. Current zoning permits the construction of four additional units, presenting a significant opportunity to increase revenue and property value. This prime location near major highways (I-96, I-275, and US-23) ensures high demand and easy access to employment centers, attracting top-tier residents. The property's strong performance and significant upside potential make it an ideal investment for discerning buyers seeking a value-add opportunity in a thriving market. The APN is 21-05-252-024.

Location Insight

City

New Hudson

County

Oakland

State

Michigan

Latitude

42.5143

Longitude

-83.6402

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