Rural Development Portfolio – INCOME PROPERTY ORGANIZATION

Stone-Maplewood Manor (20)

Rural Development Portfolio

Available | $9,550,000

Alpena, Lewiston, Mio, and Prescott, MI
Property Type: Multifamily
Number of Properties: 7
Number of Units: 191
Price Per Unit: $50,000

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

Location

EXECUTIVE SUMMARY:

The Rural Development Portfolio boasts 191 units spread across 7 properties in northeastern Michigan. Currently it is operating at 99% physical occupancy and has maintained this level of performance for many years. The portfolio requires only minimal management oversight from ownership due to this outstanding historical occupancy. Current average rent across the portfolio is $555, and average market rents climb to $732 based on HUD Fair Market Rents by county.

This portfolio represents well located assets in Alpena, Lewiston, Mio, and Prescott, all poised for new ownership with a value-add mentality. Contact IPO to set up a confidential tour before it’s gone.

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

Broker, Indiana | Sales Associate, Michigan & Ohio

Sales Associate, Michigan & Ohio