The Property

• Milford Village Flats presents a rare opportunity to acquire a fully stabilized, 16-unit multifamily community in the heart of Milford, Michigan — one of Oakland County's most desirable and supply-constrained submarkets. The property comprises two well-maintained residential buildings offering an identical unit mix of all one-bedroom, one-bath floor plans averaging 740 square feet. With over two dedicated parking spaces per unit and a 100% occupancy rate, the asset generates monthly gross revenues exceeding $22,000, equating to an annual gross potential income of $264,000.
• The property features a favorable utility structure that enhances net operating income. Each unit is individually metered for electricity and gas, with tenants responsible for those costs directly. The landlord covers only water and trash. Every unit is equipped with its own in-unit washer and dryer, electric baseboard heat, and window AC — amenities that support strong tenant retention. A utility reimbursement program currently generates approximately $360 per month in additional income, further improving cash flow.
• The current owner has invested over $500,000 in capital improvements over the last two years, substantially reducing future CapEx exposure for an incoming investor. Major exterior and structural upgrades include a brand-new roof, a freshly resurfaced parking lot, updated property signage, and enhanced professional landscaping that elevates the asset’s curb appeal. On the interior, the community has undergone extensive modernization with high-end turnkey renovations featuring new cabinets, premium countertops, modern flooring, fresh paint, and updated contemporary fixtures. These comprehensive upgrades position the property to command premium rents while ensuring low-maintenance operations for years to come.
• Milford boasts exceptional macroeconomic fundamentals, characterized by a highly affluent resident base with a median household income exceeding $105,000—well above the state and national averages. This strong economic landscape is anchored by the area's premier public education system, including top-rated institutions within the Huron Valley School District like Milford High School. The combination of high-earning households and coveted, blue-ribbon schools makes the submarket immensely desirable for young professionals and families alike, ensuring a highly qualified, stable tenant pool and insulating the property from economic volatility.