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sold the 33-unit at 574-650 . in Milford, MI to LLC for $2.84 million, or approximately $86,000 per unit.The 119,247- square-foot multifamily community consists of 40 two-bedroom units in two buildings. Seven of the units were previously sold as individual condominium units, the remaining 33 units were fully leased at the time of the . were built in 2005 and are a short walk north to downtown Milford.

Alex Beachum of Income Organization represented both parties in the sale.

The acquisition coincided with an additional purchase by Tall Pine of the 43-unit Townhomes in Detroit on March 26 for $1.4 million, or about $33,000 per unit. Beachum and James Zwada with Income Property represented the , Townhomes.

Please see CoStar #2728759 and #2716533 for more information on these transactions.

Source:  http://www.costar.com/News/Article/Frankel-Associates-Sells-Ridge-Valley-Townhomes-for-$28M/148262

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