177 Wilshire Dr Troy, MI 48084
- Apartment buildings
- 160,000 SF
- 2.04 lot acres
Current Use by Public Records
- ZEN City Center / Apartment Complex
Property Details for 177 Wilshire Dr
- Year built
- 2021
- Lot size
- 2.04 lot acres
- Property size
- 160,000 SF
- Property type
- Apartment buildings
Description
This exceptional Class A, 286-unit luxury apartment building presents a compelling core investment opportunity. Located in Troy, Michigan, on a 2.04-acre lot at 177 Wilshire Dr, 48084, this 2021-built property boasts 160,000 square feet of meticulously designed living space. Currently operating at a 94% occupancy rate, the building commands a price per square foot of $666.25 and a price per unit of $372,727.27, totaling an asking price of $106,600,000. Situated in an affluent area of Troy, consistently ranked among Michigan's and the nation's top cities, the property benefits from a $144,000+ average household income within a 5-mile radius. Its prime location offers convenient access to I-75 and is just 1.5 miles from the Somerset Collection Mall, a top-performing shopping destination. Residents enjoy full-service amenities, including 24-hour on-site security, electronic monitoring, and on-site management. Nearby attractions include Somerset Golf Club, Springdale Golf Course, Philip J Huber Park, Children's Hospital, Oakland County Troy Airport, Beaumont Hospital Royal Oak, and Great Lakes Crossing Outlets. This fee-simple ownership opportunity provides a strong return on investment in a thriving market. The building's market-rent strategy and high occupancy rate underscore its financial strength and potential for continued growth.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Oakland
- State
- Michigan
- Longitude
- -83.1633
- Latitude
- 42.5638
