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.