Location

EXECUTIVE SUMMARY:

This portfolio consists of Carrollton Manor, located in Carrollton Township, and Andre Arms located just 3 miles away in Saginaw. These neighborhoods are considered as suburban cities surrounded by a mostly rural area in northeastern Saginaw County. Saginaw is located roughly 30 miles north of the city of Flint and 50 miles northeast of the city of Lansing.

Carrollton Manor is located on Bauer Drive and Palmetto Drive just west of N Michigan Avenue and south of McCarty Road. The property consists of six lots totaling 3.4 acres with five garden-style buildings built in 1968 with mansard roofs. The property offers a competitive unit mix of 22 one-bedroom units with approximately 675 sq.ft. of living space and 33 two-bedroom units with 850 sq.ft. of living space. The units have electric baseboard heat and sleeve A/C. Tenants are responsible for gas and electric while the landlord pays for water and sewer.

Andre Arms is located on S Andre St. & Williams St. in Saginaw, MI approximately 3 miles from Carrollton Manor. Andre Arms is situated on 0.943 acres consisting of 2 two-story California-style buildings built in 1973. The property offers all one-bedroom units, approximately 600 sq.ft. with electric baseboard heat and sleeve units for air conditioning. The property offers on-site laundry and lockable storage lockers to tenants. Tenants are responsible for gas and electric while the landlord pays for water and sewer.