Altitude Westside

4312 W 13 MILE RD
Royal Oak MI 48073

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE

2023 Population 13,773 123,760 281,005
2023 Average HH Income $120,340 $136,413 $131,610

Exclusively Marketed by:

Brady Williams
Sales Associate
(360) 989-5395
brady@greaterdevelopment.net

21 Kercheval Suite 233

Grosse Pointe Farms, MI 48236
 Altitude Westside

Actual Market
Unit Mix # Units Square Current Rent PSF Monthly Market Market Rent Market
Feet Rent Income Rent PSF Income
1 bd + 1 ba 20 750 $1,132 $1.51 $22,640 $1,450 $1.93 $29,000.00
2 bd + 1 ba 4 850 $1,556 $1.83 $6,224 $1,750 $2.06 $7,000.00
Totals/Averages 24 767 $1,203 $1.67 $28,864 $1,500 $2.00 $36,000.00

PROPERTY SUMMARY INCOME CURRENT PRO FORMA

Number of Units 24 Gross Scheduled Rent $367,920 96.8 % $432,000 97.3 %

Other Income $12,057 3.2 % $12,057 2.7 %
Building SF 20,500
Gross Potential Income $379,977 $444,057
Year Built 1955
General Vacancy -$17,400 4.7 % -$21,600 5.0 %
# of parcels 1
Effective Gross Income $362,577 $422,457
Building Class B
Less Expenses $142,515 39.30 % $148,012 35.03 %
Location Class A
Net Operating Income $220,062 $274,445
Number of Parking Spaces 24
EXPENSES CURRENT Per Unit PRO FORMA Per Unit
INVESTMENT SUMMARY
Advertising $2,100 $88 $2,100 $88
Price $3,667,700
Admin $10,154 $423 $10,154 $423
Price PSF $178.91 Management Fee $7,177 $299 $12,674 $528
Occupancy 95.27 % Payroll $13,846 $577 $13,846 $577
NOI (CURRENT) $220,062 Utilities $19,823 $826 $19,823 $826
NOI (Pro Forma) $274,445 Repairs $21,654 $902 $21,654 $902
CAP RATE (CURRENT) 6.00 % Insurance $7,115 $296 $7,115 $296

CAP RATE (Pro Forma) 7.48 % Taxes $60,646 $2,527 $60,646 $2,527
Total Operating Expense $142,515 $5,938 $148,012 $6,167
Expense / SF $6.95 $7.22
% of EGI 39.30 % 35.03 %

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or
other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors
should conduct your own investigation of the property and transaction.