IPO brokers largest per unit multifamily property sale in Oakland County

BLOOMFIELD HILLS, Mich. - Michimich -- Income Property Organization (https://www.incomepo.com/) (IPO), a Bloomfield Hills-based regional apartment brokerage, announced the sale of a property for $388,000 per unit, representing the highest amount paid on record in Oakland County.

The Harrison, located in Royal Oak on Morse Avenue, was sold to Chicago-based VennPoint Real Estate with the assistance of IPO's Kevin Jahnke and Greg Coulter. The total transaction was valued at $29.1 million.

The Harrison includes 75 Class A community units of one, two, and three-bedroom townhome and loft style units. It was constructed in 2016 by Bob Wolfson on a former lumber yard with no expense spared. In addition to the top-end construction materials used, other luxurious features include a pool, rooftop patio, hot tubs, gym, private garages, and concierge service.

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"As a business located in Oakland County, we're excited to take part in this historic transaction right in our backyard," said Coulter, founder of IPO.

Income Property Organization in Bloomfield Hills, Mich. offers customized multifamily brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property. To learn more or inquire about multifamily investment opportunities, visit www.incomepo.com or contact Greg Coulter at (248) 932-0300.

Source: Income Property Organization

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