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29030263
29030256

5130 McKinley St, Detroit, MI 48208

JB
MI 6505382114
Premier Property Services
Listed by Premier Property Services
Unpriced
166 days on market
Updated 72 days ago

LIHTC Portfolio with Burned-Off Risk + $1.3M Rent Upside

Details
Property Type Multifamily
Sub Type Apartment Building, Single Family Rental Portfolio
Square Footage 250,000
Net Rentable (SqFt) 250,000
Units 230
Cap Rate 9.00%
Occupancy 95%
Broker Co-Op Yes
Class A
Year Built 2007
Year Renovated 2025
Zoning Residential / Multifamily
Investment Type Value Add
Occupancy Date 12/26/2025
Ground Lease No
Ownership Private
Sale Condition For sale by owner

Value Add LIHTC Opportunity: 5 Portfolios in Detroit, MI and Benton Harbor, MI

Marketing description

Premier Property Services is pleased to offer a well positioned affordable housing portfolio of professionally managed “LIHTC” properties. 5 Seperate Portfolio's Totaling 200+ Units, this unique offering combines separate portfolios that were selectively acquired and stabilized over the past few years by a single ownership group, Midwest USA Acquisitions Limited Dividend Housing Association, LLC. Upon initial acquisition, each portfolio was either absentee ownership or mismanaged, and in a few cases, both. Current ownership strategically stabilized the portfolio’s by repositioning troubled units, completing deferred interior / exterior maintenance, working with municipalities, as well as MSHDA and participating housing authorities to achieve code compliance. Now that the properties have been stabilized and meet the initial program thresholds, the new wave of ownership is well positioned for stabilized year-over-year growth.

As one shall discover through due diligence, the properties were either newly built or fully transformed between 2004-2007, bringing the properties into todays building standards. The subject offering may be acquired as a whole, or by individual portfolios groupings that are detailed in this Offering Memorandum. Contact listing broker, James Bufalino, to further discuss the intricacies of the offering.

Investment highlights

  • Low Income Housing Tax Credit (LIHTC) Incentives

  • Located in Emerging Real Estate Markets

  • Strong Rental Demand

  • Long-Term Appreciation

  • MSHDA Compliant

  • Section 8 Compliant

  • Multiple ADA Accessible Units

  • Stabilized Portfolios

  • Excellent Year-Over-Year Income Growth Potential

  • Professionally Managed

Listing Contacts

JB
MI 6505382114
Premier Property Services
Listed by Premier Property Services

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