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Venlo Place Apartments 15345 Venlo Pl 66 Unit Apartment Building $7,660,000 ($116,061/Unit) 7.20% Cap Rate Big Rapids, MI 49307
Investment Highlights
- In walking distance of Ferris State.
- Located East of US 131 and West of Ferris State University.
Executive Summary
Vision Real Estate is pleased to present Venlo Place, a Multifamily / Student Housing investment opportunity located within walking distance to Ferris State University. Conveniently located just East of US 131 and just West of Ferris State University, Venlo place has a wonderful history of great leasing and occupancy, providing a stable, cash flowing asset with the opportunity to grow rent with its close proximity to a growing University.
Property Facts
| Price | $7,660,000 | Building Class | B |
| Price Per Unit | $116,061 | Lot Size | 12.63 AC |
| Sale Type | Investment | Building Size | 108,280 SF |
| Cap Rate | 7.20% | Average Occupancy | 56% |
| No. Units | 66 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2006 |
| Property Subtype | Apartment | Parking Ratio | 2.49/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | H-1 - Residential Zoned Property | ||
| Price | $7,660,000 |
| Price Per Unit | $116,061 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 12.63 AC |
| Building Size | 108,280 SF |
| Average Occupancy | 56% |
| No. Stories | 3 |
| Year Built | 2006 |
| Parking Ratio | 2.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | H-1 - Residential Zoned Property |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Tub/Shower
- Views
- Walk-In Closets
- Freezer
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- 24 Hour Access
- Fitness Center
- Security System
- Gated
- Video Patrol
- Grill
- Package Service
- Volleyball Court
- Wi-Fi
- Individual Locking Bedrooms
- Roommate Matching
- Walk To Campus
- Individual Leases Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 66 | - | 1,400 - 1,840 |
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Venlo Place Apartments | 15345 Venlo Pl
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