18-Unit Apartment
6004-6014 Holiday Gardens Dr, Grand Blanc, MI 48439
For Sale
$1,600,000
Three brick buildings combine townhomes, apartments, and studios across a wooded setting.
Property Size16,910 SF
Lot Size9.20 Acres
Price / SF$94.62
Days on Market12
Property Features for 6004-6014 Holiday Gardens Dr
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Buildings
Construction
Listing Agency:
Ham Commercial, A Division of Lucy Ham Group, Inc.
Listed By:
Lucy Ham · License MI #122522
(810) 659-6569
Source:
Cpix.resimplifi
Added: Nov 3
Changed: Nov 12
Last Checked: Nov 14 at 2:21AM
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 Ham Commercial, A Division of Lucy Ham Group, Inc.
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Investment Insights
Based on property information with market context.
This 16,910-square-foot apartment property comprises 18 units in three brick buildings on 9.2 acres in Grand Blanc Township. One building contains six two-story, two-bedroom townhomes, each with 1.5 baths, a private basement, and a patio. The other buildings include two-bedroom, two-bath apartments and studios. Units are equipped with stoves, refrigerators, and walk-in closets; improvements include metal roofs and vinyl windows.
Most units are leased, and tenants pay for separate utilities. The property is zoned MDM.
Most units are leased, and tenants pay for separate utilities. The property is zoned MDM.
Key Highlights
- 18 units in three brick buildings on 9.2 acres
- One building has six two‑story, two‑bedroom townhomes, each with 1.5 baths, a private basement, and a patio
- Other buildings contain two‑bedroom, two‑bath apartments and studios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,588
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,591,760
$2.6M
Cap Rate 7%
$1,851,257
$1.9M
Cap Rate 9%
$1,439,867
$1.4M
Market Conditions
NOI Build-Up for 16,910 SF
Gross rent
$249.6K $14.76/SF
− Vacancy
−$14.0K −$0.83/SF
EGI
$235.6K $13.93/SF
− OpEx
−$106.0K −$6.27/SF
NOI
$129.6K $7.66/SF
Area
Genesee County, MI
Vacancy
5.60%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,591,760
Cap Rate 7%
$1,851,257
Cap Rate 9%
$1,439,867
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,588 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.56M
$3.11M – $4.15M
NOI $249,082 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
Median Home Value
Market
Properties on Market for Apartment buildings in Genesee County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Three brick buildings combine townhomes, apartments, and studios across a wooded setting.
Where is this apartment building located?
The property is located at 6004-6014 Holiday Gardens Dr Grand Blanc, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 18 units in three brick buildings on 9.2 acres; One building has six two‑story, two‑bedroom townhomes, each with 1.5 baths, a private basement, and a patio; Other buildings contain two‑bedroom, two‑bath apartments and studios
