1500 Carr Rd - Apartments FOR SALE
Muskegon, MI 49442 |
1500 Carr Rd
Muskegon, MI 49442
HIGHLIGHTS
- 8.86 Acres Overlooking Carr Lake with Room for Expansion
- 22 Out of 24 Units Fully Gut Rehabbed with New Kitchens, Bathrooms, Flooring, Lighting, Trim, Doors, Paint etc.
- Approximately $500,000 in Recent Capital Improvements
- Value Add Opportunity; 20 onsite storage units (3,000 SF) not currently rented could add $22k+ to annual income
- New Apartment Units are Renting at a $125-$175 Rent Premium from the majority of the Current Rent Roll
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
Five Lakes Apartments and Storage
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
60000
STORIES
2
YEAR BUILT
1971
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
11-029-300-0003-00,11-029-300-0003-40
