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128 UNITS | BUILT 1967
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33105 Warren Road Westland, MI 48185
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.
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260 E. Brown Street, Ste 150
Birmingham, MI 48009
Phone: 248.646.7701
Berkadia.com
Investment Sales
Detroit Office
CONTACT Info
Mortgage Bankers
Jillian Maki
Director
248.208.3465
jillian.maki@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462
peter.benedetto@berkadia.com
Rick Brace
Senior Director
248.341.3319
rick.brace@berkadia.com
Conor David
Director
425.213.5103
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
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LOCATION
Property Description
Opportunity Highlights
[CEROS OBJECT]
AMENITIES
Fully Equipped Kitchen
Kitchen Pantry
Large Closets
In Home Intercom System
Patio / Balcony
Swimming Pool
Picnic Area
Resident Community Room
Laundry Facilities
Community Gazebo
Basement Storage Unit
QUICK STATS
119,040
SF
18.66 units per acre
Density
930 SF
Average SF
$1.10
Rent / SF
2
Stories
8
Buildings
1967
Built
128
UNITS
6.86 acres
Site Size / Acreage
Location
The Asset
Amenities
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Contact
Privacy
Terms of Use
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280 spaces
Total Parking
*In Select Units
A small town near a big city, Regents Court is located in Westland, a suburb of Detroit in Wayne County and one of Michigan’s 10 most populous cities. The 128-unit, two-story apartment community is located just eleven miles from the Detroit Metro Airport with convenient access to I-96 and I-275. Built in 1967, the property features eight buildings spread across 6.86 acres.
Residents of Regents Court can choose from one- and two-bedroom floor plans ranging from 800 to 1,000 square feet with a unit mix comprised of 64 one-bedroom units and 64 two-bedroom units. A variety of community amenities include a sparkling swimming pool, a resident community room, and a picnic area. The property also offers onsite professional management, onsite laundry facilities, and a community gazebo.
Additional features include 8x10 basement storage units, 24-hour emergency maintenance, updated windows and doorwalls, and updated kitchen and bathroom fixtures. The apartments also offer large closet space, a personal patio or balcony, and a locked foyer entry for added security. Other convenient amenities include a linen closet, kitchen pantry, and an in-home entry intercom system.
Westland/Canton/Livonia Submarket:
94.6% - Occupancy
1.2% - Rent Growth
3.62% - 3 Year Average Rent Growth
Median home prices in Westland reached $195,000 as of November 2023, up 5.3% from the same period in the prior year
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LOCATION
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33105 Warren Road Westland, MI 48185
33105 Warren Rd | Westland, MI 48185
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Strong Rental Market:
Regents Court is currently over 98% occupied and 99% leased. The community has completed minor unit improvements and achieved rental premiums. Given the strong occupancy history and limited new supply, there is a strong opportunity for a new owner to complete a programmatic value-add program further driving value.
Value-Add Opportunity
Westland/Canton/Livonia Submarket:
94.6% - Occupancy
1.2% - Rent Growth
3.62% - 3 Year Average Rent Growth
Median home prices in Westland reached $195,000 as of November 2023, up 5.3% from the same period in the prior year
Strong Rental Market:
The Regents Court, with its exceptional qualities, will lead the market as there are minimal new multifamily projects planned or under construction within 10 miles (214 units projected in 2024), highly limited land available for multifamily development, and the high cost of construction will oppress any new development. Regents Court is poised for a continuation of increased revenue through organic rent growth.
Exceptionally High Barriers to Entry:
4
Situated just one mile from Ford Road, the premier retail corridor of Westland featuring IKEA, Emagine Theatre and Walmart. Additionally, the property is located just 2.0 miles from the I-275 & Ford Road. This location provides residents with the best of all worlds with employment, shopping and entertainment only a short drive away. Regents Court is positioned 14 miles to Detroit Metro Airport, 18 miles to downtown Ann Arbor and 25 miles to Downtown Detroit.
Excellent Location:
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33105 Warren Road Westland, MI 48185
Conor David
Director 614.796.0222 conor.david@berkadia.com