700-710 S Dewitt Dr - Apartments FOR SALE


Dewitt, MI 48820
$2,100,000 USD
586-216-6990
700-710 S Dewitt Dr, Dewitt, MI for Sale
$2,100,000 USD
Apartments - FOR SALE
1/10
null | 7% Cap Rate

700-710 S Dewitt Dr
Dewitt, MI 48820


OVERVIEW

Discover a rare opportunity to own a fully-leased 16-unit multifamily property in the heart of desirable DeWitt, Michigan. This well-maintained apartment building offers all 2-bedroom units, delivering stable cash flow and long-term upside. Each unit features spacious layouts, updated kitchens, and on-site parking. Tenants enjoy quiet, suburban living with quick access to Lansing, major employers, shopping, and top-rated schools. The property highlights include: Room for rental increases approx. $100/unit. Ability to increase CAM, Utility, and Administrative fees. All tenants on 12 month leases, historically 100% occupied and $0 in delinquency. Historically a very high performing property, the owner is only selling to do a 1031 exchange into a larger asset. Professionally managed by Pro Asset Management. Washer and dryer income is collected through WASH for extra income. No seller financing or land contract will be offered. Selling for a 1031 exchange. No showings without an accepted LOI.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$166 USD /SF

# OF UNITS

16

PRICE/UNIT

$131,250

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1972

PARKING SPACES

38

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,310 SF

ZONING

MF, Multiple Family Resid

APN/PARCEL ID

200-110-000-091-00

ASK ABOUT THIS PROPERTY

Andrea StephanThe Stephan GroupMore Info
586-216-6990

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Andrea StephanThe Stephan GroupMore Info
586-216-6990

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