6/24/2008

Michigan apartments on the block for $2.75M

by
The University Place Apartments, an 89-unit apartment complex in Pontiac, Mich., has been placed on the market with an asking price of $2.75, or $30,899 per unit.

The offering is being handled by Jonathan Dwoskin of Marcus & Millichap's Detroit office.

The apartments are located at 17 University Place Dr. and are being offered for $32 per square foot with an 8.2 percent capitalization rate. Built in the late 1980s, the property contains 87,035 square feet and is comprised of 11 one-bedroom, 42 two-bedroom and 35 three-bedroom apartments.

Address: 17 University Place Dr., Pontiac, Mich.

Size: 89 units

Built: Late 1980s

---

Filed Under: Multi-Family

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009