Renaissance Apartments – INCOME PROPERTY ORGANIZATION

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Renaissance Apartments

Available | $2,870,000

720 W Michigan Ave, Jackson, MI 49201
Property Type: Multifamily
Total Number of Units: 41
Average Square Feet: 760
Price per Unit: $70,000
Gross Rent Multiplier: 6.41
Expense to Income Ratio: 53.95%
Debt Service Coverage: 1.23
Year One ROI: 5.27%

Listing Agent: A.J. Beachum, J.D.

Location

EXECUTIVE SUMMARY:

Renaissance Apartments has 6 one-bed / one-bath units, each measuring 606 square feet and 35 spacious two-bed / one-bath units, each measuring 786 square feet. It was built in 1969 and has been well maintained over the years with mature trees and landscaping.

Currently Renaissance is operating at 92.7% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership. The exterior of the property has undergone significant renovation consisting of a new roof, siding, balconies, windows, sliding doors, and parking lot. 11 units have been fully upgraded with new kitchen and flooring. Another 16 units have seen partial upgrades, such as LVP flooring.

MEET OUR TEAM

Founder | Managing Member, Michigan | Sales Associate, Kentucky

Associate Broker, Michigan | Broker, Illinois

A.J. Beachum, J.D.

Associate Broker, Michigan | Broker, Ohio

Associate Broker, Michigan | Managing Broker, Indiana

Sales Associate, Michigan, Ohio, & Kentucky

Sales Associate, Michigan

Paul McHugh, J.D.

Managing Broker, Kentucky | Associate Broker, Ohio | Sales Associate Michigan

Associate Broker, Michigan | Executive Assistant

Managing Broker, Florida | Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio