5951 N Skeel Ave - Apartments FOR SALE


Oscoda, MI 48750
$1,200,000 USD
248-977-7434
5951 N Skeel Ave, Oscoda, MI for Sale
$1,200,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

5951 N Skeel Ave
Oscoda, MI 48750


HIGHLIGHTS

  • All Senior Condo Units
  • Individual Condos Selling for a Significant Premium
  • Value-Add Opportunity; 7/20 Units Remain Unfinished
  • Attractive Amenities; Movie Theater, Fitness Center, Craft Room, and More

OVERVIEW

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Oscoda Senior Condos in Oscoda, MI. Built in 1990, these 20 condominium units, consist of (16) 540 SF One Bed One Bath Apartments and (4) 810 SF Two Bed One Bath Apartments. The Oscoda Senior Condos boasts several amenities such as a fitness center, movie theater, and a recreating room, just to name a few. Additionally, all utilities are included in the HOA fees, which include water, electricity, internet, cable and snow removal. The Oscoda Senior Condos are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notable, this asset has unfinished units. While 13/20 Units are finished and rent-ready, the remaining units are unfinished. A new owner could continue to finish the remaining units, allowing them to be rented out. This leaves investors with an opportunity to add additional rent and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$20 USD /SF

# OF UNITS

20

PRICE/UNIT

$60,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oscoda Senior Condominiums

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

WB3

APN/PARCEL ID

066-O80-000-009-00,066-O80-000-016-00,066-O80-000-021-00,066-O80-000-022-00,066-O80-000-023-00,066-O80-000-024-00,066-O80-000-027-00,066-O80-000-028-00,066-O80-000-031-00,066-O80-000-032-00,066-O80-000-033-00,066-O80-000-037-00,066-O80-000-045-00,066-O80-000-052-00,066-O80-000-054-00,066-O80-000-059-00,066-O80-000-061-00,066-O80-000-072-00,066-O80-000-073-00,06602820002410,066O8000004701,066O8000004702

ASK ABOUT THIS PROPERTY

Austin HullHull Multifamily AdvisorsMore Info
248-977-7434

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Austin HullHull Multifamily AdvisorsMore Info
248-977-7434

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