Status   SOLD  
248 Unit Apartment Complex
1910 W Pierson Road, Flint, MI, 48504 United States
sold
$4,500,000
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List Date11/27/2010
TypeOther
Units248
Near 4 Univeristies and many colleges including the Famous Michigan University
Near Flint Airport and Detroit
Total Units: 248 units 2 Story Walk Up Apartment Area: Over 10 acres
1 bedrooms Rent 385/rent per mthX 173 = 66605
2 bedrooms paying 485/rent per mth X 75 = 36375
Additional Features and Amenities PROJECT FINANCIAL STATEMENT 2012
Projected Income
90% Occupany 102980X 90%=92682.00
Per year 1,112,184
Project Expenses(yr)
Insurance 14,000
Office Expenses 6,000
Landscaping 11,500
Real Estate Tax 23,000
Repairs 25,000
Utitilites -Water 15,000
Managament Fee 55,600
On Site Personnel 84,000
Total Expenses 234,100
Net Profit 878,084