Amberidge Apartments

GREA is pleased to present Amberidge Apartments. The property is a 45-unit multifamily community at 32864 Amberidge Drive in Roseville, Michigan. It was built in 1985. It offers 28,224 rentable square feet in a single-story, walk-up layout. The unit mix is 37 one-bedroom units and 8 two-bedroom units. Units average 627 square feet. The property is 98% occupied, with 44 of 45 units leased.

Amberidge is a value-add opportunity. Fourteen units have been renovated. Thirty-one units remain in original condition. Renovated units achieve higher rents than classic units of the same floor plan. New ownership can extend the renovation program and move rents toward market. Water and trash are billed back to residents through RUBS.

The location is strong. Amberidge sits in Macomb County, minutes from I-94 and I-696. Residents have direct access to downtown Detroit, Lake St. Clair, and major employers. These include the GM Global Tech Center, the U.S. Army Detroit Arsenal, and Stellantis. Over 48,000 people live within two miles. The area's housing stock is mature, with a median year built of 1967. This limits new competing supply.