P.A. Commercial Facilitates $1.1M Sale of Fully Occupied Apartment Building in Waterford
We are thrilled to announce the sale of a 4,536 SF low-rise apartment building located at 3058 Dixie Hwy in Waterford, Michigan. The six-unit building was fully occupied at the time of sale and sold for $1.1 million.
Noor Kalasho, an associate with P.A. Commercial, represented both the buyer and the seller in the transaction. The buyer, attracted to the income-generating property, discovered the listing through Crexi, a leading commercial real estate platform. This deal underscores P.A. Commercial’s use of innovative marketing tools like Crexi to expand the reach of their listings and connect potential buyers with prime investment opportunities.
“The sale of 3058 Dixie Hwy exemplifies the demand for well-located, fully leased multifamily properties,” said Noor Kalasho. “The buyer was drawn to the stability and potential of this asset, and it was great to facilitate a smooth transaction for both parties. Platforms like Crexi allow us to maximize visibility for properties and ensure we’re reaching qualified buyers.”
Located on Loon Lake, the property offers tenants direct access to an all-sports lake and convenient access to major roads, making it an appealing location. The buyer saw this as a long-term investment with consistent cash flow and potential for value appreciation in the years to come.
This sale is another example of P.A. Commercial’s ability to leverage cutting-edge technology and deep market expertise to achieve results for their clients. With demand for multifamily properties remaining high in the metro Detroit area, P.A. Commercial continues to connect buyers with opportunities that meet their investment goals.