Location

EXECUTIVE SUMMARY:

This portfolio consists of 56 total units and three separate properties: Mary Court Place (24 units), Wright Ave (20 units), and Rivers Edge (12 units) are all located within 2.5 miles of each other and have been well stabilized for many years. Currently 91.1% occupied, these assets have an attractive unit mix of 28 one-bedroom units and 28 two-bedroom units. The two larger properties (Mary Court and Wright Ave) are outfitted with tenant paid electric baseboard heat, while the smaller property (Rivers Edge) has landlord paid boiler heat. All three properties also have tenant paid electric with tenant-supplied sleeve A/C units. Each property is uniquely located within Alma. Wright Ave is across the street from Alma College, Mary Court is a few hundred feet from the Mid-Michigan Medical Center and Rivers Edge is a riverfront property at the end of a quiet dead-end street with immediate access to Alma’s lighted and paved river walk.