Meadows Apartments

Sold | $2,050,000

Freeland, MI | Units: 48 | Price Per Unit: $42,708 | Avg Sq Ft: 600 | GRM: 7.00 | DSC: 1.39 | Year 1 ROI: 7.31% | Listing Agent: A.J. Beachum, J.D. & Greg Coulter

Location

Executive Summary

Meadows Apartments is situated on three acres located on the west side of Webster Rd just north of W Freeland Rd in beautiful “Walleye Capital” of Freeland, Michigan. Meadows consists of 48 units in four, 2-story buildings and contains a very attractive mix of twenty-four, one-bedroom units with an average size of 500 ft.2, and twenty-four, two-bedroom units with an average size of 700 ft.2. Meadows has 24-hour maintenance, professional management, on-site laundry, central air conditioning and patios or balconies. Tenants are responsible for electricity while the landlord provides water, sewer and trash.