317-728-8854
305 Locust St W, Three Oaks, MI for Sale
Apartments - FOR SALE
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null | Request Cap Rate

305 Locust St W
Three Oaks, MI 49128


HIGHLIGHTS

  • 48 Apartment Units Located in Three Oaks, MI
  • 8 New-Construction Units
  • Low Submarket Vacancy - 4.2%
  • Limited to Zero Immediate Area Competition
  • Property Currently 100% Occupied

OVERVIEW

Hidden Harbor Villas presents a rare investment opportunity in the heart of the Michiana region. This 48-unit apartment complex in Three Oaks, Michigan, benefits from an established residential enclave supported by a diversified regional economy. Situated minutes from the South Bend–Mishawaka MSA, the property attracts steady renter demand from major employment drivers including higher education, healthcare, manufacturing, and logistics industries. Nearby anchors include the University of Notre Dame, Beacon Health System, and AM General, enhancing workforce stability and supporting long-term, needs-based rental housing. Recently upgraded with eight newly constructed units, this asset offers modern appeal in a submarket noted for low vacancy rates and limited new multifamily competition. The property encompasses multiple two-story buildings on a 4.7-acre site, creating an attractive living environment with suburban conveniences and proximity to Lake Michigan’s shoreline communities. The area combines commuter accessibility with natural demand generators such as recreational amenities and regional lifestyle appeal, ensuring consistent occupancy while mitigating the volatility often seen in tourism-dependent markets. Investors are afforded the opportunity to acquire a stabilized asset with current full occupancy, minimal market competition, and enduring fundamentals, positioning Hidden Harbor Villas as a compelling addition to any multifamily portfolio.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

48

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hidden Harbor Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

95

LAND DETAILS

LAND ACRES

4.72 AC

LAND SF

205,603 SF

ZONING

R

APN/PARCEL ID

11-47-0010-0077-11-8

ASK ABOUT THIS PROPERTY

Aaron KuroiwaMarcus & MillichapMore Info
317-728-8854

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Aaron KuroiwaMarcus & MillichapMore Info
317-728-8854

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