Residents enjoy a quiet, rural environment with lakefront amenities while remaining within a short drive to Downtown Ann Arbor (13 miles) and Downtown Brighton (8 miles), two of the region’s strongest rental and employment markets.
Frey Court Apartments
Investment Highlights
17 Units across 9 buildings | 12,400 SF
4.05 Acres with 55 ft private lake frontage
88% Occupied
Current NOI: $147,645
Asking Price: $1,600,000
Cap Rate: 9.23% in-place
Price per Unit: $94,118
EST. Loan Proceeds ~$1.22M loan at 6.0%, 25-year amortization
Value-Add Opportunity
In-place rents average $1.30/SF with clear upside to $1.62/SF based on comps.
Long-term upside through interior upgrades, improved management, and rent growth.
Originally constructed in 1965 as a lakeside resort, Frey Court Apartments has been thoughtfully revitalized with recent interior and exterior updates. Today, the property operates as a 17-unit community, yet still offers significant runway for continued investment and growth.
Exclusively Marketed by:
Michael McClafferty
Managing Broker | OakPointe Real Estate Advisors
📞 (248) 972-7040 | ✉️ [email protected]