177 Wilshire DrTroy, MI 48084

Property Details for 177 Wilshire Dr

Year built

2021

Lot size

2.04 AC

Property size (Sq ft)

160,000 SF

Property type

Apartment buildings

Description

This exceptional Class A, 286-unit luxury apartment building presents a compelling core investment opportunity. Located in Troy, Michigan, on a 2.04-acre lot at 177 Wilshire Dr, 48084, this 2021-built property boasts 160,000 square feet of meticulously designed living space. Currently operating at a 94% occupancy rate, the building commands a price per square foot of $666.25 and a price per unit of $372,727.27, totaling an asking price of $106,600,000. Situated in an affluent area of Troy, consistently ranked among Michigan's and the nation's top cities, the property benefits from a $144,000+ average household income within a 5-mile radius. Its prime location offers convenient access to I-75 and is just 1.5 miles from the Somerset Collection Mall, a top-performing shopping destination. Residents enjoy full-service amenities, including 24-hour on-site security, electronic monitoring, and on-site management. Nearby attractions include Somerset Golf Club, Springdale Golf Course, Philip J Huber Park, Children's Hospital, Oakland County Troy Airport, Beaumont Hospital Royal Oak, and Great Lakes Crossing Outlets. This fee-simple ownership opportunity provides a strong return on investment in a thriving market. The building's market-rent strategy and high occupancy rate underscore its financial strength and potential for continued growth.

Location Insight

City

Troy

County

Oakland

State

Michigan

Latitude

42.5638

Longitude

-83.1633

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