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28878805
28878806

13366 North Rd, Fenton, MI 48430

$1,551,000
174 days on market
Updated 14 days ago

North Road Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Units 12
Cap Rate 7.55%
NOI $117,056
Occupancy 100%
Pro-Forma Cap Rate 8.94%
Pro-Forma NOI $138,680
Year Built 1972
Year Renovated 2019
Buildings 3
Stories 2
Acreage 1.700
Zoning R-M (Multifamily Residential)
Investment Type Value Add
Occupancy Date 12/11/2025

Multifamily | 12 Units | $129,250/unit

Marketing description

North End consists of three well-maintained, two-story apartment buildings situated on 1.7 acres in desirable Fenton Township. The property features an attractive mix of three one-bedroom units (750 SF each) and nine two-bedroom units (825 SF each), with 10 of 12 units recently upgraded with granite countertops, stainless-steel appliances, and modern finishes. Currently operating at 100% occupancy, North End Apartments offers immediate cash flow and excellent upside through continued rent growth and ongoing expense optimization. Recent performance shows strong rent increases and reduced vendor costs, positioning the property for meaningful NOI growth over the next three years. With proximity to major employment hubs in Flint, Brighton, and Ann Arbor via U.S. Highway 23, the asset benefits from exceptional accessibility, a strong tenant base, and consistent leasing demand. This makes North End an ideal fit for investors seeking a stable, income-producing property with clear value-add potential in one of Genesee County’s most desirable submarkets

Investment highlights

▶ Fully Leased 12-Unit Property | Consistent 100% occupancy with long-term tenant retention.

▶ Proven Rent Growth | Average rent up over $21,000 annually since acquisition, with further upside as renewals align with market.

▶ Upgraded Interiors | 10 of 12 units feature renovated kitchens with granite and stainless steel.

▶ Desirable Fenton Township Location | Convenient to I-23 with access to Flint, Brighton, and Ann Arbor job centers.

▶ Stable Operations with Upside | Expenses trending down as ownership refines vendor contracts; rents remain below market by $100 $150 per unit.

▶ Attractive Financing Conditions | Competitive 6.3% rate assumption, 25-year amortization, and 75% LTV yield favorable cash-on-cash returns.

Listing Contacts

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$117,056.00
$9,754.67/mo

Valuation Metrics

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DSCR
7.55%
Cap Rate
7.55%
ROI

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