2323 W Osterhout - Apartments FOR SALE


Portage, MI 49024
$975,000 USD
312-624-7087
2323 W Osterhout, Portage, MI for Sale
$975,000 USD
Apartments - FOR SALE
1/6
null | 7.13% Cap Rate

2323 W Osterhout
Portage, MI 49024


HIGHLIGHTS

  • Access & Connectivity
  • Demand Drivers
  • Upside Potential with Rent Growth
  • Separately Metered Utilities
  • Off-Street Parking & Amenities
  • Strong Rental Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property, known as “Olive Tree Apartments”, located at 2323 and 2353 W Osterhout Avenue in Portage, Michigan (the “Property”). Constructed in 1990, Olive Tree Apartments is improved by two (2), two-story residential buildings and contains eight (8), 2-Bedroom/1-Bathroom units with 7,200 square feet of gross living area in 7,808 square feet of gross area. The Property is situated upon 0.90-acres (two adjacent tax parcels) and features ample on-site surface parking as well as two detached garage buildings with a total of six (6) garage bays. The Property is well-positioned in a residential area of Portage, Michigan, offering convenient access to the community’s local retail corridors, employment centers, and surrounding neighborhoods. The property benefits from strong regional connectivity via US Highway 131 and Interstate 94, providing efficient travel to nearby economic hubs including Kalamazoo, Battle Creek, Ann Arbor and South Bend, Indiana, as well as broader access to the Chicago and Detroit metropolitan areas. This accessible location places residents within close reach of regional shopping, employment opportunities, and recreational amenities while maintaining the appeal of a quieter residential setting within Southwest Michigan.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

8

PRICE/UNIT

$121,875

CAP RATE

7.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olive Tree Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,492 SF

ZONING

RM-1

APN/PARCEL ID

10-00032-585-O,10-00032-590-O

ASK ABOUT THIS PROPERTY

Caroline KittleHorvath & TremblayMore Info
312-624-7087

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Caroline KittleHorvath & TremblayMore Info
312-624-7087

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