26474 Village Heights Drive, Edwardsburg, MI 49112

$4,200,000
Sold Price
$4,200,000
List Price
$4,300,000
Closing Date
Jul 26, 2016
Days on Market
98
MLS#
16016899
Status
SOLD
Type
Multifamily

Property Description

Multi-Family Portfolio Offering includes Village Heights Apartments, The Retreat, Wild Water Apartments, and two adjacent undeveloped land parcels totalling 7.33 +/- Acres surrounding the properties for future building expansion or wildlife habitat. The This Offering is a performing asset (currently 96% occupancy) that contains a total of 94 units with rental rates from $600 to $1000 per month (two units do not provide income stream since they are used as management office and storage). This Portfolio is managed by a local Management Company with increased occupancy levels since taking over the asset. The tenants are responsible for gas and electric. Municipal utilities serve the Properties. Buyer to be responsible for their own due diligence. . The owner discloses the acquisition of the property was under adverse possession and shall be sold in an "as is" condition. The property was returned to the Lender by Foreclosure or Deed in Lieu. Detailed information on the investment opportunity will be provided after completion of a confidentiality agreement

616-951-4663

Additional Information

Owner Pays
Sewer, Trash, Water
Taxes
$76,084
SEV
1697800
Acres
28.68
Air Conditioning
Central
Driveway
Paved, Shared Paved
Exterior Material
Poured Concrete, Stucco, Wood
Fireplaces
8
Heating
Forced Air
Heat Source
Electric
Lot Dimensions
500x2000
Road Frontage
250
Roofing
Comp Shingle
School District
Edwardsburg
Sewer
Public
Substructure
Slab
Tenant Pays
Electric, Gas
Total Parking Spaces
100
Water
Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.

Courtesy of Richard J Doolittle and Newmark Grubb Cressy & Everett.

Courtesy of Richard J Doolittle and Newmark Grubb Cressy & Everett.

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