In January 2015, Andover acquired Waldon Lakes Apartments a 200-unit community in Lake Orion Michigan on the verge of losing its tax credit status. Situated in a highly visible area on Jocelyn Road with A-rated schools, Waldon Lakes is now 75% occupied through its conversion to a conventional market-rate property as the rent restrictions are replaced with market rents.
Waldon Lakes Apartments are for rent in Orion, Michigan. Choose from luxurious one, two and three bedroom floor plans featuring full-size washer/dryer, walk-in closets and a fully equipped kitchen with energy-efficient gas appliances and raised-panel white cabinets with brushed nickel accents.
12 Percent ROI Awaits Waldon Lakes Investors with improved unit interiors with new kitchen cabinets and backsplashes, an updated clubhouse with a new fitness center, brand-new carports and water bill backs have further enhanced the overall vitality of the community. In the first year of operation, investors have received a 12% return on their investment.