Mid Michigan Portfolio

Mid Michigan Portfolio
Available | $5,500,000

Flint, MI | Units: 100 | Price Per Unit: $55,000 | Avg Sq Ft: 681 | GRM: 6.25 | DSC: 1.07 | Cash Flow: 38,346.00 | Year 1 ROI: 2.79% | Listing Agent: A.J. Beachum, J.D.

Location

Executive Summary

IPO is pleased to present a 100-unit multifamily portfolio made up of four properties in the Mid-Michigan area:

  • Kingsley Apartments, 24 units, City of Corunna
  • Flushing Village, 16 units, City of Flushing
  • Western Pines, 30 units, Flint Township
  • Vincent Court Townhomes, 30 units, City of Flint

The current average rent across the portfolio is $566 per unit. Market rent averages approximately $798, a 41% increase. Rents are well below market at every property, which gives a new owner a clear path to higher NOI without significant renovation or capital expense. Each property has a strong occupancy history and has required minimal management oversight from ownership. The portfolio is currently 86% physically occupied, which is below historical levels. These are well-located assets ready for an owner with a value-add plan. Contact IPO to schedule a confidential tour.