Four-Unit Apartment
New
For Sale
$399,900
4900 Rossiter Ave, Waterford, MI 48329
Each residence has one bedroom and one bathroom, with individual utility metering.
Property Size2,100 SF
Price / SF$190.43
Days on Market2
Property Features for 4900 Rossiter Ave
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
laundry
garage
site parking
Building Details
Year Built
1951
Listing Agency:
MBA Real Estate Services
Listed By:
Christopher Mersino · License #353012
(248) 620-8660
Source:
Premiermichiganhomesearch
Added: Oct 5
Changed: Oct 6
Last Checked: Sep 28 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MBA Real Estate Services
Investment Insights
Based on property information with market context.
This four-unit apartment property offers a consistent one-bedroom, one-bathroom layout in every residence. Each unit is individually metered. The building has a roof installed two years ago, along with newer mechanical systems.
Additional revenue is generated through laundry, garage, and on-site parking. Water, sewer, snow removal, and trash are included in the leases. The property is in Waterford, with access to major roads, commercial services, and area employment.
Additional revenue is generated through laundry, garage, and on-site parking. Water, sewer, snow removal, and trash are included in the leases. The property is in Waterford, with access to major roads, commercial services, and area employment.
Key Highlights
- Four units, each with one bedroom and one bathroom
- Individually metered units
- Roof replaced two years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,796
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,920
$555.9K
Cap Rate 7%
$397,086
$397.1K
Cap Rate 9%
$308,844
$308.8K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$41.6K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$39.7K $18.91/SF
− OpEx
−$11.9K −$5.67/SF
NOI
$27.8K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,920
Cap Rate 7%
$397,086
Cap Rate 9%
$308,844
Alternative Uses
Best Use
Multifamily LT 5
$397.1K
$347.5K – $463.3K
NOI $27,796 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$453.0K
$396.3K – $528.5K
NOI $31,707 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 48329, MI
24,391
Population
10,249
Households
2.4
Avg Household Size
45
Median Age
29%
College-Educated
94%
High-School Grad
10.3 sq mi
ZIP Area
2,368
Density / Sq Mi
$85,777
Median Household Income
$48,837
Median Earnings
$1,323
Median Rent
$245,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has one bedroom and one bathroom, with individual utility metering.
Where is this quadplex located?
The property is located at 4900 Rossiter Ave Waterford, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four units, each with one bedroom and one bathroom; Individually metered units; Roof replaced two years ago
