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    502 Village Ln Milford, MI 48381

    Sponsored
    For Sale
    $6,950,000

    Luxury Condo Portfolio: 17 Units, High ROI

    Property size:
    36,349 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    Uptown Village presents a compelling investment opportunity in Milford, Michigan. This exceptional multifamily property comprises two, three-story buildings totaling 17 brand-new condo units. Each unit boasts a spacious layout, featuring high-end finishes and a modern design. The basement level includes a 1.5-car garage, ample storage, and a versatile office space. The first floor offers an open-concept gourmet kitchen, dining area, half-bath, living room, and outdoor deck. The second floor includes a master suite with a walk-in closet, a second bedroom, a full bathroom, and laundry. A finished attic on the third floor provides flexible space, potentially serving as a third bedroom, playroom, or den, complete with an additional bathroom and closet. The property sits on a 0.56-acre lot and encompasses 36,349 square feet, with two parking spaces per unit. The property is zoned R-1 and was built in 2024. Currently vacant, the property is available for occupancy on October 31, 2024. The asking price is $6,950,000, translating to $408,823.53 per unit and $191.20 per square foot. Located at 502-558 Village Lane, Milford, MI 48381, this property benefits from a strong demographic profile, with an average household income exceeding $127,663 within a 5-mile radius. This prime location and the high-quality construction make Uptown Village an attractive investment for a core portfolio. The property's APN is 1603479081.

    Property Features for 502 Village Ln

    General Information

    Property type
    Multifamily properties
    Square Feet
    36,349 SF
    Class
    A
    Lot Size
    24,394 SF

    Building Details

    Year Built
    2024
    Buildings
    2
    Stories
    3
    Units
    17

    HighLights

    • New 17‑unit condo development.
    • Mix of 3‑bedroom, 3‑bathroom units.
    • Three‑story units with garage/basement, spacious main living area, and finished attic.
    • Luxury finishes throughout.
    • Excellent rental and sales potential.
    • Prime location in a high‑growth area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6075811
    Latitude
    42.59740013

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    FAQs

    What type of property is this?
    Multifamily property - Luxury Condo Portfolio: 17 Units, High ROI
    Where is this multifamily property located?
    The property is located at 502 Village Ln Milford, MI.
    What is the asking price?
    The asking price for this property is $6,950,000.
    What are key features of this property?
    This property features: New 17-unit condo development.; Mix of 3-bedroom, 3-bathroom units.; Three-story units with garage/basement, spacious main living area, and finished attic.
    Request Owner's contact information
    502 Village Ln Milford, MI 48381
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    502 Village Ln Milford, MI 48381
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