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Buy&Hold (Multifamily): (283 Units) Section 8 - 4 Bldgs, Pontiac, MI 48341 (Oakland County) + $24,000,000

Updated: Jun 21

Multifamily Investment Opportunity


Price

$24,000,000



OFF-MARKET INVESTMENT OPPORTUNITY

283-Unit (Section 8) Multifamily Portfolio | Pontiac, MI / Oakland County | $24,000,000


PROPERTY OVERVIEW:

This is a rare opportunity to acquire a stabilized yet value-add portfolio of 4 multifamily communities totaling 283 units in the growing Pontiac submarket. The current in-place financials show strong cash flow with significant upside through increased occupancy and rental rate adjustments to match current market averages.


PORTFOLIO BREAKDOWN:

  • Oak Square Apartments – 119 units

  • Perry Place Apartments – 72 units

  • Monroe Manor Apartments – 64 units

  • Huron Place Apartments – 28 units


FINANCIAL SNAPSHOT (Current Performance):

  • Total Annual Gross Income: $3,273,388

  • Total NOI (including CapEx): $1,289,219

  • Total Adjusted NOI (excluding CapEx): $1,700,213

  • Occupancy: 88.5%

  • Cap Rate 7.08%

  • Cap Rate Based Valuation (Post-Stabilization): $45.20M


VALUE-ADD OPPORTUNITIES:

  • Vacancy Upside: Current vacancy results in $340,000 in lost income annually. Lease-up strategy offers immediate lift.

  • Rent Increase Upside: Current average rent is $1,024/unit vs. market rate of $1,125/unit.→ Annual Upside: $342,636

  • Post-Stabilization Income Projection:$3,616,024 (projected gross) → $45.2M portfolio valuation @ 8% cap

  • Average Adjusted Cap Rate at Current Income Levels: 7.08% (with upside to 11%+ upon stabilization and rent bumps)


PRICING:

Purchase Price: $24,000,000


This represents a significant discount to stabilized value (~$45M+ upside)


INVESTMENT HIGHLIGHTS:

  • 283 total units spread across well-located communities

  • Substantial in-place income with operational upside

  • Conservative market cap rate of 8% used in analysis

  • Additional equity upside from filling 11.5% vacancy

  • Rent bumps of $101/unit/month offer over $340K in increased NOI

  • Long-term value enhancement through improved property management and stabilization



TEAM PROMISELAND NOTICE:All property details and analysis are for internal use only and may not be distributed, marketed, or re-shared without express written permission or an active membership within TEAM PROMISELAND. Unauthorized distribution will incur a minimum penalty of $500 per occurrence.


SUBMIT ALL OFFERS & INQUIRIES TO: investments@promiselandrealtyllc.com


Property Map



All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.



OFFICIAL PROMISELAND LENDING PARTNER


100% Financing for Rehab Projects

Powered by Residential Capital Partners

ResCap is a direct private lender offering zero-money-down loan options for 1-4 unit residential investment flips & rentals across the U.S.


🔹 100% Financing – Covers purchase + rehab

🔹 Fast Closings – ~10 days

🔹 Credit Requirements – 620+ FICO (Rehab), 660+ FICO (DSCR)

🔹 Loan Size – $75K–$1.25M

🔹 Rates – 10.9%–11.9% | 2–3% origination | 1st lien

🔹 Serviced In-House | Virtual Inspections | No Owner-Occ or Rural Props

        Nationwide Coverage (Excludes: AK, AZ, NV, PA)

        Proof of Funds Available

This listing is proudly sponsored by Residential Capital Partners – trusted lending for the nation’s best flippers.
For more info email sarter@promiselandrealtyllc.com or text (864) 762-2509









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Work: 864-762-2509


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