Milford Village Flats presents a rare opportunity to acquire a fully stabilized, 16-unit multifamily community in the heart of Milford, Michigan - one of Oakland County's most desirable and supply-constrained submarkets. The property comprises two well-maintained residential buildings offering an identical unit mix of all one-bedroom, one-bath floor plans averaging… Read More 740 square feet. With over two dedicated parking spaces per unit and a 100% occupancy rate, the asset generates monthly gross revenues exceeding $23,647, equating to an annual gross potential income of $283,700. The current owner has invested over $500,000 in capital improvements over the last two years, substantially reducing future CapEx exposure for an incoming investor. Major exterior and structural upgrades include a brand-new roof, a fully milled and paved parking lot, updated property signage, and enhanced professional landscaping that elevates the asset's curb appeal. On the interior, the community has undergone extensive modernization with high-end turnkey renovations featuring new cabinets, premium countertops, modern flooring, fresh paint, and updated contemporary fixtures. These comprehensive upgrades position the property to command premium rents while ensuring low-maintenance operations for years to come. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Greater Development LLC.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multifamily
Square Ft.
12,800
Lot Size
0.37 Acres
Year Built
1975
MLS Number
20261059067
30 Days Snapshot Of 48381
$408k
+5%
(avg) sold price
15
-46%
homes sold
48
-40%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Basement?: 0
Building
16 total units, 16 leased units, 16 one-bedroom units, Built in 1975, Remodelled in 2025, Architectural style: Ranch, Brick, Vinyl, 12,800 total square feet, 12,800 combined square feet, Unit count: 16
Cooling
Window Unit(s)
Fireplaces
Fireplace?: 0
Foundation
Slab
Garage
Garage?: 0
Water Features
Public (Municipal)
Heating
Baseboard, Electric
Lot
Lot size area: 0.37, Lot size dimensions: 145.44X110
Miscellaneous
Gross scheduled income: $283,770, Income projection: Actual, Monthly rental income: $22,608, Net operating income: $216,949, Operating expense: $66,821
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