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Holly Village Apartment-SELLER FIN. AVAILABLE 204 Rosette St 16 Unit Apartment Building $1,720,000 ($107,500/Unit) 7% Cap Rate Holly, MI 48442
EXECUTIVE SUMMARY
Holly Village Apartments are located in Holly, and this friendly community is within walking distance to shopping, banks, and parks. The complex was built in 1973
and has been well-maintained over the years with mature trees and landscaping. It contains 16 two-bedroom, one-bath units, each measuring 850 square feet. 13
of the 16 units have been completely renovated. There are full-size washers and dryers in every unit.
IPO has projected an NOI going forward of $120,349 based on street rents and the market rate expenses. However, in year two when the complex is stabilized
and brought up to market, the NOI increases to $127,001. The asset was recently appraised in April 2025 for $1,720,000.
and has been well-maintained over the years with mature trees and landscaping. It contains 16 two-bedroom, one-bath units, each measuring 850 square feet. 13
of the 16 units have been completely renovated. There are full-size washers and dryers in every unit.
IPO has projected an NOI going forward of $120,349 based on street rents and the market rate expenses. However, in year two when the complex is stabilized
and brought up to market, the NOI increases to $127,001. The asset was recently appraised in April 2025 for $1,720,000.
PROPERTY FACTS Under Contract
| Price | $1,720,000 | Building Class | C |
| Price Per Unit | $107,500 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 15,088 SF |
| Cap Rate | 7% | Average Occupancy | 88% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.85/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | AI - Agricultural Preservation District | ||
| Price | $1,720,000 |
| Price Per Unit | $107,500 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 15,088 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2024 |
| Parking Ratio | 2.85/1,000 SF |
| Zoning | AI - Agricultural Preservation District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | 850 |
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PROPERTY TAXES
| Parcel Number | 01-34-102-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $367,870 |
PROPERTY TAXES
Parcel Number
01-34-102-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$367,870
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Holly Village Apartment-SELLER FIN. AVAILABLE | 204 Rosette St
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