2163 N Center Rd
Saginaw, MI 48603
Covington Cove Apartments · Multifamily Property For Sale · 41 Units

Covington Cove is a handsome, brick-clad community comprised of nine apartment buildings (eight of the buildings are 5,786 sq ft and one building is 3,944 sq ft) along with a commercial building featuring seven suites and a rental office, all spread over 3 acres in a beautiful courtyard setting. The unit mix entails 40 spacious two-bedroom units (800 sq ft) and 1 large three-bedroom unit (1,000 sq ft) that is located above the office. The seven commercial suites range from 200-300 sq ft and are currently occupied by four salons and two barber shops, all long-term tenants. There is an additional 2,092 sq ft of partially finished space in the basement of the commercial building that presents an opportunity for an investor to convert to living space or a heated maintenance shop. Covington Cove was built in 1968 with wood-frame construction, brick exterior, and poured concrete foundations. The community HVAC is outfitted with tenant-paid gas, gas-forced air furnaces and central air for eight of the apartment buildings; one building has landlord-paid, hot-water baseboard heat and window AC sleeves. Saginaw Township is located in the Saginaw Metropolitan Statistical Area, which includes 196,542 residents in Saginaw County and almost 400,000 residents in the Tri-Cities region of Saginaw, Bay City and Midland. Saginaw Township is a family-oriented community home to over 40,000 residents and the neighboring county seat of Saginaw is currently undergoing a major revitalization in the downtown business district. Saginaw Township is strategically located along I-75 between Bay City and Flint, approximately 90 miles north of Detroit. Several interstates and highways converge on this region, including I-75, I-675, M-46 and US-10. MBS International Airport is 10 miles from the property and services the region.Covington Cove is very well-located near the intersection of State Street and Center Road, in the heart of the primary retail corridor for the Saginaw area as evidenced by an array of big-box retailers including Walmart, Kroger, Walgreens, a United States Post Office, an abundance of eateries, and a host of credit unions and banks.