4144 Airport Road, Waterford, MI 48329

Waterford
Local realty services provided by:ERA Prime Real Estate Group
4144 Airport Road,Waterford, MI 48329
$2,200,000
  • - Beds
  • 20 Baths
  • 11,500 sq. ft.
  • Multi-family
  • Active
Listed by: brady williams
Office: greater development llc.
MLS#:20261040546
Source:MI_REALCOMP

Price summary

  • Price:$2,200,000
  • Price per sq. ft.:$191.3

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 and...

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Home facts

  • Year built:1954
  • Subdivision & Development:SUPRVRS 19 - WATERFORD TOWNSHIP
  • Listing ID #:20261040546
  • Added:61 day(s) ago
  • Updated:August 03, 2026 at 09:58 AM

Rooms and interior

  • Total bathrooms:20
  • Full bathrooms:20
  • Living area:11,500 sq. ft.

Heating and cooling

  • Heating:Forced Air, Natural Gas, Separate Meters

Structure and exterior

  • Year built:1954
  • Building area:11,500 sq. ft.
  • Lot area:1.54 Acres
  • Architectural Style:A-Frame
  • Construction Materials:Wood Siding
  • Foundation Description:Slab
  • Levels:One

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,200,000
  • Price per sq. ft.:$191.3
  • Tax amount:$32,807

Parking

  • Total parking spaces:30
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