Location

EXECUTIVE SUMMARY:

Woodside is a low-rise complex of 20 buildings built in 2001, spread over 7.82 acres, 2.20 acres of which are vacant where approximately 50 additional units can be developed. The buildings contain a mix of, 5 enormous one-bedroom (810 ft.2), and 79 large two bedroom units (900 ft.2), all of which have individual entrances. Notable for investors is the utility structure, Woodside is outfitted with tenant-paid, gas-forced air heating system and the electricity is separately metered. Woodside occupancy is currently at 96% and consistent with the historical operation of the property which traditionally maintains levels between 95-100%. Strong occupancy such as this is mainly because of the age of the property, the large greenspace and location of the buildings, less than 300 yards away from Mt. Pleasant High School and less than a mile away from Central Michigan University. Additionally, Woodside is less than a half mile away from McLaren Hospital- Central Michigan, State Police Post, Morey Courts Recreation Center and many big box retailersproviding tenants ample retail, educational and entertainment opportunities that are close to home. Woodside has been well-maintained and this offering represents a turn-key investment for a multifamily investor.