115 West St - Apartments FOR SALE


Battle Creek, MI 49037
$2,700,000 USD
248-932-0300
115 West St, Battle Creek, MI for Sale
$2,700,000 USD
Apartments - FOR SALE
1/25
null | 7.83% Cap Rate

115 West St
Battle Creek, MI 49037


OVERVIEW

This community boasts a mix of 39 spacious one, two and three-bedroom and one-bath apartments. The 115 West Apartments were built in 1920 with the addition building added in 1988, the property has been well maintained over the years with mature trees and landscaping. The complex's ownership has continued to achieve improved rental rates on renewals and new leases. Further, IPO has projected an NOI going forward of $211,332 based on approximate street rents and T12 expenses. Current average rent across the units is $1.050. However, when the complex is brought up to market, average rent increases to $1,132.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

39

PRICE/UNIT

$69,231

CAP RATE

7.83%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

115 West

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

75

LAND DETAILS

LAND ACRES

2.5 AC

LAND SF

108,900 SF

ZONING

R3B

APN/PARCEL ID

1690-00-018-0

ASK ABOUT THIS PROPERTY

Bryan LintonIncome Property OrganizationMore Info
248-932-0300

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Bryan LintonIncome Property OrganizationMore Info
248-932-0300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.