8-Unit Apartment Complex on 3 Acres - Land Contract, 20% Down
Business Description
Eight-unit townhome-style apartment complex on 3 acres in New Hudson, Michigan. Land contract sale only: minimum 20% down, interest-only option for the first 12 months, other terms negotiable. Currently 100% occupied.
All eight units are two-bedroom, averaging about 1,063 square feet, single story, built 1978. Seven are 2BR/1.5BA at roughly 1,100 sq ft; one is 2BR/1BA at roughly 800 sq ft. Each has a private entry, covered porch, private concrete patio, in-unit washer and dryer, and a full kitchen with dishwasher. Fifteen parking spaces plus eight resident storage units, five of them leased.
Five units are fully renovated. Two remain original and one is partially finished, leaving a clear value-add path. In-place rents sit roughly 20 percent below the surrounding two-bedroom comp set, so finishing the remaining units and marking rents to market is the core of the opportunity. Zoning is reported to allow additional units on the parcel, subject to buyer verification with the township.
The site is in Lyon Charter Township, western Oakland County, served by South Lyon Community Schools with direct I-96 access: Brighton 8 minutes, Novi 9, Ann Arbor 20, downtown Detroit 45. Residents pay electric and gas. Well and septic, with public utilities reported available. FEMA Zone X.
Rent roll and operating detail available to qualified buyers under a signed confidentiality agreement. Seller financing available to a qualified buyer. Contact us today to request additional information.
All eight units are two-bedroom, averaging about 1,063 square feet, single story, built 1978. Seven are 2BR/1.5BA at roughly 1,100 sq ft; one is 2BR/1BA at roughly 800 sq ft. Each has a private entry, covered porch, private concrete patio, in-unit washer and dryer, and a full kitchen with dishwasher. Fifteen parking spaces plus eight resident storage units, five of them leased.
Five units are fully renovated. Two remain original and one is partially finished, leaving a clear value-add path. In-place rents sit roughly 20 percent below the surrounding two-bedroom comp set, so finishing the remaining units and marking rents to market is the core of the opportunity. Zoning is reported to allow additional units on the parcel, subject to buyer verification with the township.
The site is in Lyon Charter Township, western Oakland County, served by South Lyon Community Schools with direct I-96 access: Brighton 8 minutes, Novi 9, Ann Arbor 20, downtown Detroit 45. Residents pay electric and gas. Well and septic, with public utilities reported available. FEMA Zone X.
Rent roll and operating detail available to qualified buyers under a signed confidentiality agreement. Seller financing available to a qualified buyer. Contact us today to request additional information.
About the Business
- Years in Operation
- 48
- Currently Home Based
- Yes
- Facilities & Assets
- Approximately 9,182 sq ft across single-story buildings on a 3-acre parcel, built 1978. Eight two-bedroom units averaging 1,063 sq ft, each with private entry, covered porch, private concrete patio, in-unit washer/dryer, dishwasher, and full kitchen; renovated units add stainless appliances and vinyl plank flooring. Pitched composition shingle roofs, metal siding, forced-air heat. 15 parking spaces. Eight resident storage units, five leased. Well water and septic; individual electric and gas metering.
- Market Outlook / Competition
- Lyon Charter Township sits in western Oakland County, one of Michigan's strongest suburban rental submarkets, served by South Lyon Community Schools with direct I-96 access to Novi, Brighton, Ann Arbor, and Detroit. Area employers include Ascension Providence Novi, the GM Milford Proving Ground, Harman, Lineage Logistics, and ITC. Surveyed two-bedroom communities within roughly seven miles average about $1,830 per month at 95 percent occupancy. The subject is 100 percent occupied with in-place rents well below that set.
- Opportunities for Growth
- Three defined paths. First, finish the two original units and the one partially completed unit to bring all eight to renovated condition. Second, mark in-place rents toward the surrounding two-bedroom comp set, which averages materially above current rents. Third, lease the three vacant resident storage units, which requires no construction. Current zoning is reported to permit additional units on the 3-acre parcel; buyers should independently verify buildability and septic capacity with the township.
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 10,000
About the Sale
- Transition Support
- The seller is engaged directly and will provide a transition period covering the rent roll, lease terms, tenant relationships, vendor and maintenance contacts, and the well and septic service history. Because the sale is a land contract, the seller retains an ongoing financial interest in the property's performance and is motivated to support a smooth handover.
- Financing Options
- Land contract sale only. Minimum 20% down.
Listing Info
- ID
- 2543932
- Listing Views
Listing ID: 2543932 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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