Acquisition Summary:
Property Detail: 3BR 1BA Brick Ranch
Acquisition Date: August 30, 2024
Acquisition Price: $45,000
Capital Expenditures (CapEx): $30,000
Potential Rent: $1,000
After Repair Value (ARV): 95,000 (conservative)
Some of the challenges that Detroit residents face are the lack of suburban comforts, such as access to good public schools and fresh food supermarkets. While the City of Detroit is nowhere near a food desert, the MTAM acquisitions team always looks for prime areas with better access to resident amenities.
This property is located near 8 Mile Road, just south of the Charter Township of Royal Oak.
Royal Oak is a trendy city with affluent residents enjoying a vibrant life. The proximity of the property to Royal Oak allows future residents of the property to enjoy the vibrant city life available to their suburban neighbors. The acquisition team believes that the location of this property gives it good potential for equity growth into the 5-year horizon of the Fund.