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Mackinaw Heights 2403 Mackinaw St 32 Unit Apartment Building $1,895,000 ($59,219/Unit) 8.48% Cap Rate Saginaw, MI 48602
INVESTMENT HIGHLIGHTS
- Large Units
- Onsite Storage
- New Roofs 2021
EXECUTIVE SUMMARY
Marcus & Millichap is proud to present the Mackinaw Heights Apartments located at 2403 Mackinaw St, Saginaw, MI 48602. The property has 32 units that consists of 20 one-bedroom one-bathroom units and 12 two-bedroom one-bathroom units. The community allows tenants larger than average unit square footage, a balcony or deck, additional storage for each unit, onsite and carports.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $1,895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $59,219 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.89 AC |
| Cap Rate | 8.48% | Building Size | 31,960 SF |
| Gross Rent Multiplier | 6.28 | Average Occupancy | 95% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $1,895,000 |
| Price Per Unit | $59,219 |
| Sale Type | Investment |
| Cap Rate | 8.48% |
| Gross Rent Multiplier | 6.28 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.89 AC |
| Building Size | 31,960 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1966 |
| Zoning | R-3 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Security System
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 850 |
| 2+1 | 18 | - | 1,000 |
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PROPERTY TAXES
| Parcel Number | 92002065000000 | Total Assessment | $358,200 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
92002065000000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$358,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Mackinaw Heights | 2403 Mackinaw St
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