Bridgeport Portfolio

Sold | $1,188,000

Saginaw, MI | Units: 44 | Price Per Unit: $27,000 | Avg Sq Ft: 694 | GRM: 4.66 | DSC: 1.52 | Listing Agent: A.J. Beachum, J.D.

Location

Executive Summary

Country Squire is comprised of four garden-style buildings, built in 1972, which spread across more than 3.08 acres. The buildings have 32 two-bedroom units (660 sq.ft.), which have either a ground floor patio or a balcony for tenants to enjoy. Notable for investors is the tenant paid electric baseboard heat and sleeve A/C. Occupancy is currently is 91%, which is below the historical occupancy which is usually 95%-100%. Strong occupancy such as this is mainly due to the location – near the intersection of King Rd and Williamson Rd, minutes from healthcare, education, shopping, parks, and the library. Country Squire has been well maintained, and this offering represents a turn-key investment for a multifamily investor. The amenities at the attractive community include patios/balconies, ample parking, tenant storage, dishwashers, and on-site laundry.