Income Property Organization, a Bloomfield Hills, Michigan-based regional apartment brokerage, sold an apartment property for $388,000 a unit in Oakland County, Michigan.
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. Features include a pool, rooftop patio, hot tubs, gym, private garages and concierge service.
