1730 Broadway St - Apartments FOR SALE


Niles, MI 49120
$3,900,000 USD
989-980-7359
1730 Broadway St, Niles, MI for Sale
$3,900,000 USD
Apartments - FOR SALE
1/45
null | Request Cap Rate

1730 Broadway St
Niles, MI 49120


OVERVIEW

MOXIE Real Estate + Development is pleased to exclusively offer River Oaks Apartments For Sale. Built in the 1950's this 59-unit complex consists of two buildings. With an attractive unit mix, there is 1 studio, 19 1-bed units, 27 2-bed units and 12 2-bed lofts style units. Nineteen of the units were newly constructed in 2007 within the basement. The property has had many substantial capital improvements completed including new windows in 2005, new parking lot, pex plumbing, and electrical panels in 2007. In 2018 and 2019 new roofs and facias were installed on both buildings. 5 boilers have recently been replaced and 2 hot water holding tanks. The owner currently pays for boiler heat, water, sewer, and trash. The tenants are paying for separately metered electricity, they also pay for the electric A/C. We invite you today to look at this well-maintained investment property in Southwest Michigan.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

59

PRICE/UNIT

$66,102

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

River Oaks Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,399 SF

ZONING

MDR

APN/PARCEL ID

11-72-6010-0145-00-9

ASK ABOUT THIS PROPERTY

Shawn JacobsMOXIE Real Estate + DevelopmentMore Info
989-980-7359

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Shawn JacobsMOXIE Real Estate + DevelopmentMore Info
989-980-7359

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