SUBMIT YOUR BEST OFFERS BY EOD THURSDAY (3/23) ********** Investment opportunity Tenant-occupied unit until May 25 Quiet location in town Ground-floor unit New hardwood floors, carpet, and paint Laundry in basement (coin operated) Storage unit in basement Dishwasher (new) Central forced air A/C unit and furnace recently replaced Some furniture may be included in sale (negotiable up front) Co-working office / shared desk space available nearby Easy walking access to Royal Park Hotel, RARA, bars, restaurants, shops, & library 15 min drive to Oakland University and Fiat-Chrysler Headquarters HOA includes: water, gas, trash, snow removal Cash flow on this property: A typical 12-month lease arrangement yields about $635 net operating income per month (8.7% return on investment) A short-term furnished lease arrangement yields about $917 net operating income per month (12.5% return on investment) Return on investment is calculated as the capitalization rate. (capitalization rate = annual net operating income / purchase price of $88,000) The owner is happy to provide some assistance in setting up property as investment, as well as negotiating the inclusion of furniture.
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