Executive Summary

A garden-style asset in a mid-metro location

The Barrington offers an outstanding location, excellent market metrics, a strong economy of scale, highly competitive property features, and an exceptional value Enhancement opportunity. The Barrington is poised for a Value Enhancement program due to the current below market rents, and the ability to add value through strategic common area and interior unit renovations. These unique features will allow a new owner to take full advantage of the opportunity to increase the revenue through rental rate premiums.

INVESTMENT HIGHLIGHTS

  • Substantial Value Add Opportunity
  • Prime Location
  • Strong Market Metrics
  • Attractive Financing Optionality

Amenities

UNIT AMENITIES

  • Fully-Equipped Kitchen with Dishwasher, Disposal, and Microwave
  • Central Air Conditioning
  • Ceiling Fan
  • Walk-In Closets
  • Tile Floors

COMMUNITY AMENITIES

  • Clubhouse
  • Controlled Access
  • Courtyard with Playground and Tennis Court
  • Carports Available
  • On-Site Laundry Facility
  • Pool

ASSET

A vibrant atmosphere to the property makes a lasting impression on potential residents

The Barrington is a 312-unit, garden-style apartment community located in Romulus, Michigan, approximately four miles from the Detroit Metropolitan Airport. Built in 1972, the property consists of two-and-one-half-story masonry constructed buildings featuring brick and wood-sided exteriors as well as pitched roofs with composition shingles. Situated on 25.5 acres of land with 252,160 square feet of rentable space, The Barrington contains a unit mix comprised of eight studio units measuring 650 square feet each, 105 one-bedroom units spanning 760 square feet each, and 199 two-bedroom units measuring 840 square feet each, with an average unit size of 808 square feet.

LOCATION

The Barrington has easy access to nearby shopping, dining and entertainment options

Economic Snapshot

Demographics

Billions of dollars are being invested in Metro Detroit, rapidly attracting new businesses, creating jobs, and drawing Millennials. The six-county region in southeast Michigan, the Detroit-Warren-Dearborn, MI, Metropolitan Statistical Area (MSA), encompasses nearly 3,900 square miles. Home to more than 4.3 million residents, Metro Detroit is the 14th-largest MSA in the nation and a key pillar of the U.S. economy. Increased investment is rejuvenating downtown and driving growth as businesses, investors, and entrepreneurs are recognizing Detroit as a city of opportunity.

Greater Detroit is the epicenter of the global automotive industry and home to other specialized industries including health care, defense, information technology, and life sciences. The area is home to 10 of the 16 Fortune 500 companies headquartered in Michigan, including General Motors (No. 10), Ford Motor Company (No. 11), Lear Corporation (No. 148), and Ally Financial Inc. (No. 299).

CONTACT

Experts here for you

Investment Advisors

financing

DETROIT OFFICE

28411 Northwestern Highway Suite 300

Southfield, MI 48034

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