Updated Jul 15, 2026
Inkster Housing Commission And Good Housing Partnership Secure $42.1M Loan For Multifamily Rehabilitation
3703 South Henry Ruff Road & 28078 Annapolis Street
$42,100,000
Units
315
Asset Type
MultiFamily
Closing
Jul 14, 2026
About this deal
AI
The transaction involves two properties located at 3703 South Henry Ruff Road and 28078 Annapolis Street in Inkster, MI, comprising 315 multifamily units. A rehabilitation loan of $42,100,000 has been secured to fund the preservation and upgrades of these affordable housing communities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,100,000
- Loan Type: Rehabilitation
- Lender: CPC Mortgage
- Landlord: Inkster Housing Commission & Good Housing Partnership
Good Housing Partnership along with the Inkster Housing Commission managed to secure the financing to convert the properties from public housing to Section 8 under HUD’s Rental Assistance Demonstration program, ensuring long-term affordability and completing comprehensive renovations.
Players
Inkster MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93