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1712 Timber Ridge | Ypsilanti, MI
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1712 Timber Ridge | Ypsilanti, MI
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
260 E. Brown Street, Ste 150
Birmingham, MI 48009
Phone: 248.646.7701
Berkadia.com
Investment Sales
Detroit Office
CONTACT Info
Mortgage Banking
William Brenner
Senior Director 248.703.1541 william.brenner@berkadia.com
Luke Safranek
Senior Director 734.474.9137 luke.safranek@berkadia.com
Rick Brace
Senior Director
248.341.3319
rick.brace@berkadia.com
Conor David
Director
614.796.0222
conor.david@berkadia.com
Mike MCclafferty
Associate Director
215.328.1298
mike.mcclafferty@berkadia.com
Charley Henneghan
Director
248.341.3303
charley.henneghan@berkadia.com
Kevin P. Dillon
Senior Managing Director
248.341.3309
kevin.dillon@berkadia.com
Corey Krug
Senior Director
248.341.3338
corey.krug@berkadia.com
Jason Krug
Senior Managing Director
248.341.3344
jason.krug@berkadia.com
PHOTO GALLERY
LOCATION
[CEROS OBJECT]
AMENITIES
Central Air Conditioning Refrigerator Disposal Extra Storage Attic Storage Built-In Floor-to-Ceiling Bookcase Private Patio Private Entrance Laundry Facilities Playground
QUICK STATS
124,360 SF
SF
10.95 Units / Acre
Density
601 SF
Average SF
240 spaces
Total Parking
1
Stories
44
Buildings
1987
Built
207
UNITS
18.91 Acres
Site Size / Acreage
Location
The Asset
Amenities
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Deal Highlights
Significant Upside Opportunity: Available through alternative management opportunities and rent growth through strategic capital improvements.
All Private Entrances
Prime Location – Oakwood Park provides access to US-23 and I-94, and are minutes from a strong employment base, and numerous educational institutions including Eastern Michigan, and University of Michigan, as well as entertainment and neighborhood conveniences.
Outstanding Market Metrics: High submarket occupancy of 95.5%
Exceptionally High Barriers-to-Entry: Ypsilanti is an established market with very limited new multifamily units planned or under construction. Record high cost of construction will oppress any new developments.
Dynamic Employment and Demographics: Ypsilanti boasts strong employment and demographic metrics including attractive median HH income ($79,000+), high white-collar job percentages, and several substantial employers within the automotive/manufacturing, medical, and educational sectors.
New Financing Opportunity: The property is being offered free and clear of existing debt providing the opportunity for a new investor to take advantage of the improving financing markets, long term debt with interest only options and maximum leverage.
Recent Capital Improvements: Over $325k in CAPEX since 2019.
Includes: Flooring, Appliances, HVAC, Roofs, Hot Water Tanks, Water Softener, Various Electrical, and Concrete/Asphalt Work.
Property Description
Oakwood Park Apartments offers a prime investment opportunity in the desirable community of Ypsilanti, MI. Built in 1987, this expansive property spans 18.91 acres and consists of 44 one-story buildings, housing a total of 207 ranch-style units. The lakefront community provides unique amenities that set it apart from other properties, with private fishing access to Ford Lake, a playground for families, and convenient laundry facilities. The property’s strategic location offers easy access to I-94 and US-23, and less than ten miles from Eastern Michigan University and Washtenaw Community College, making it an attractive option for students and professionals alike.
Oakwood Park Apartments offers one-bedroom floor plans, equipped with a fully functional kitchen with a disposal, washer/dryer connections, extra attic storage, large closets, and built-in floor-to-ceiling bookshelves. Residents can enjoy their own private patio or balcony, enhancing the living experience with outdoor space. The double wall constructions ensure a quiet and peaceful environment, with a single-story design ensuring no one lives above or below tenants.