109 S Illinois St - Apartments FOR SALE


Mount Pleasant, MI 48858
$934,900 USD
810-397-5343
109 S Illinois St, Mount Pleasant, MI for Sale
$934,900 USD
Apartments - FOR SALE
1/6
null | 7.26% Cap Rate

109 S Illinois St
Mount Pleasant, MI 48858


HIGHLIGHTS

  • Walking distance to downtown Mt. Pleasant and CMU
  • Long history of full tenancy
  • 7.2% CAP rate

OVERVIEW

Turn-key fully occupied 12 unit rental portfolio with proven income generation ready for new ownership. Incredible investment opportunity with a lucrative 7.2% CAP rate! Fully occupied (photos are from when units were renovated.) Three well maintained multifamily properties containing 12 total units in the heart of Mount Pleasant are being sold TOGETHER as one package deal. Located within walking distance of Central Michigan University, these properties offer an excellent opportunity for student rentals and investment potential. 109 W. Illinois St. (170000049400) offers 5 units, 304 S. Main St. (170000049300) offers 4 units, and 433 S. Washington St. (170000202900) offers 3 units. All three properties are ideally located near CMU, restaurants, shopping and public transit, and have a strong historical record of full occupancy, making this a compelling opportunity for investors seeking an established multifamily portfolio

FOR SALE DETAILS

PRICE

$934,900 USD

PRICE/SF

$445 USD /SF

# OF UNITS

12

PRICE/UNIT

$77,908

CAP RATE

7.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3 Building, 12 unit Multifamily portfolio

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

CD-4

APN/PARCEL ID

17-000-00-493-00,17-000-00-494-00,17-000-02-029-00

ASK ABOUT THIS PROPERTY

Stephan BrochuRE/MAX PlatinumMore Info
810-397-5343

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Stephan BrochuRE/MAX PlatinumMore Info
810-397-5343

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.