1030 Te Ann Ct - Te Ann Apartments 18 Unit Apartment Building Offered at $1,325,000 at a 7.63% Cap Rate Lake Odessa, MI 48849

Marcus & Millichap is pleased to present Te Ann Apartments, an 18-unit multifamily community located at 1030 Te Ann Court in Lake Odessa, Michigan, within Ionia County. Built in 1959, the property consists of nine duplex-style buildings situated on approximately 2.90 acres and offers a balanced unit mix of eight one-bedroom / one-bathroom units and 10 two-bedroom / one-bathroom units. The low-density layout, off-street parking, private residential setting, and tenant-paid gas and electric distinguish Te Ann from more conventional garden-style multifamily communities.
Te Ann features functional floor plans and a neighborhood-oriented setting with convenient access to local retail, daily necessities, schools, parks, and outdoor recreation. Jordan Lake and Lakewood Elementary School are located nearby, while the property’s duplex configuration provides residents with a more residential living experience than typically found in larger apartment complexes. These characteristics support broad tenant appeal and help position the property for consistent long-term demand.
Lake Odessa is strategically positioned between Grand Rapids and Lansing, providing residents with access to two of Michigan’s largest employment centers while maintaining the affordability and quality of life associated with a smaller community. Ionia County is supported by a diversified employment base spanning automotive manufacturing, food production, healthcare, financial services, and public-sector employment, with major employers including Ventra Ionia Main, Mercantile Bank of Michigan, the Michigan Department of Corrections, Cargill Kitchen Solutions, UM Health-Sparrow Ionia, and THK Rhythm. Te Ann Apartments presents investors with the opportunity to acquire a well-located, income-producing asset in a stable West Michigan community supported by regional accessibility and a broad local employment base.