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4144 Airport, Waterford, MI 48329

Waterford
Local realty services provided by:CENTURY 21 Realty North
4144 Airport,Waterford, MI 48329
$2,200,000
  • - Beds
  • 20 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: brady williams
Office: greater development llc.
MLS#:60998394
Source:MI_REALSOURCE

Price summary

  • Price:$2,200,000

About this home

Airport Road Apartments is a 20-unit multifamily community situated on Airport Road in Waterford, Michigan - a stable, in-demand submarket within Oakland County. The property consists of two single-story buildings totaling 11,500 square feet, originally constructed in 1954. All 20 units are one-bedroom, one-bathroom floor plans, offering a consistent and easily managed unit mix that appeals to a broad renter demographic. The property is currently operating at 90% occupancy with gross rental revenue exceeding $17,000 per month, reflecting strong baseline demand. Current rents range from $925 to $975 per month, while market comparables suggest rents of $995 to $1,095 per month are achievable - representing meaningful upside for a new owner willing to execute modest lease-up and repositioning. The current NOI stands at $169,594, supporting a 7.71% cap rate at the asking price of $2,200,000 ($110,000/unit). Tenants are responsible for gas and electric, while the landlord covers water...

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Home facts

  • Year built:1954
  • Subdivision & Development:Suprvrs 19 - Waterford Township
  • Listing ID #:60998394
  • Added:60 day(s) ago
  • Updated:August 02, 2026 at 10:28 AM

Rooms and interior

  • Total bathrooms:20
  • Full bathrooms:20

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Year built:1954
  • Lot area:1.54 Acres
  • Construction Materials:Wood
  • Foundation Description:Slab
  • Levels:1 Story

Utilities

  • Water:Public Water

Finances and disclosures

  • Price:$2,200,000
  • Tax amount:$32,807
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