River Walk Villa is a garden-style complex built in 1972, consisting of 1 building sitting on 4.04 acres. The attractive unit mix contains 12, one-bedroom units with a spacious 725 sq.ft. of living space, and 12 two-bedroom units with approximately 850 sq.ft. of living space. A private garden space and serene river walk across the street gives River Walk Villa a strong sense of community. Notable for investors is the historical occupancy, which is currently at 100% and has maintained levels between 95-100% for many years. The property is well-located, less than two miles from Kellogg Company’s World Headquarters, Kellogg Community College, and all that Downtown Battle Creek has to offer. Due to this exceptional location, it provides tenants with numerous retail, educational, recreational and entertainment opportunities that are close to home.
River Walk Villa has experienced recent capital improvements with a majority of the units receiving significant upgrades such as flooring, fixtures, and faux stainless steel appliances. The boiler was replaced approximately 3 years ago and the rood was replaced last year, two substantial investments a buyer will benefit from for many years to come. This offering represents a turn-key investment for a multifamily investor with significant upside through rental rate increases. The property is outfitted with a Landlord paid, hot-water baseboard heating system and the electricity is separately metered. Amenities at the property include a garden, on-site laundry, and window-unit Air Conditioning. The property is also outfitted with a well and pump for irrigation, a huge incentive for investors. A major factor affecting the strong historical performance of this asset is its proximity to the I-94 & US-69 interchange.