The Renaissance is a garden-style complex built in 1965, and extensively renovated in 2017. Consisting of 1 building sitting on just under a half acre, The Renaissance boasts 12 large, two-bedroom units with approximately 800 sq.ft. of living space. Notable for investors is the historical occupancy, which is currently at 100% and has maintained levels between 90-100% since renovations were completed in 2017. The property is well-located; approximately two miles from Kellogg Company’s World Headquarters, Kellogg Community College, and all that Downtown Battle Creek has to offer. Due to this exceptional location, it provides tenants with numerous retail, educational, recreational and entertainment opportunities that are close to home.
The Renaissance has experienced recent capital improvements with all the units undergoing a complete rehab. Ownership replaced the boiler this year, a substantial investment a buyer will benefit from for many years to come. This offering represents a turn-key investment for a multifamily investor with significant upside through rental rate increases. The property is outfitted with a Landlord paid, hot-water baseboard heating system and the electricity is separately metered. Amenities at the property include on-site laundry, and sleeve-unit Air Conditioning. A major factor affecting the strong historical performance of this asset is its proximity to the I-94 & U.S.-69 interchange.