11429 Frey Court new Save Request In-Person Tour Request Virtual Tour
Brighton,MI 48116
Key Details
Property Type Multi-Family
Sub Type Cottage
Listing Status Active
Purchase Type For Sale
Square Footage 12,400 sqft
Price per Sqft $129
Subdivision Island Lake Colony Sub
MLS Listing ID 20251038603
Style Cottage
Bedrooms 17
Full Baths 17
Year Built 1965
Annual Tax Amount $5,888
Lot Size 4.050 Acres
Property Sub-Type Cottage
Property Description
Rare opportunity to own lakefront rental housing in Livingston County. Situated on approximately four acres with private frontage on Hamburg Lake, this 17-unit apartment community offers a tremendous value add opportunity. The property consists of 4 one-bedroom units, 12 two-bedroom units, and 1 three-bedroom unit, with 15 of the 17 units currently occupied. Average monthly rent across the property is $1,015 per unit. At the current income level, the property is offered at a 9.23% in-place capitalization rate. Comparable sales exceed $100,000 per unit. See offering memorandum for more details.
Location
State MI
County Livingston
Area Hamburg Twp
Zoning Residential
Interior
Heating Forced Air,Other
Exterior
Garage Spaces 25.0
Waterfront Description Across the Road Water Frontage,Beach Front,Beach Access,Lake Front,No Motor Lake,Private Water Frontage,Water Front
Roof Type Asphalt
Building
Foundation Crawl,Slab
Sewer Septic Tank (Existing)
Water Well (Existing)
Structure Type Vinyl,Wood
Schools
School District Pinckney
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional