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Mid Michigan Multifamily 3 Multifamily Properties Offered at $5,000,000 in Multiple Locations
EXECUTIVE SUMMARY
This 3 property portfolio consists of 104 units in Carson, Marine City, and Capac Michigan. All three properties were built in 1993 as affordable housing using Low Income Housing Tax Credits (LIHTC). The properties are now in their extended use period, but have surpassed the initial 15 year compliance period meaning the tax credits are no long liable for recapture. The properties have a $4MM USDA loan on them at 3.5% interest rate that can / should be assumed.
PROPERTY FACTS
| Price | $5,000,000 | Number of Properties | 3 |
| Price / SF | $58.00 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 86,200 SF |
| Status | Active | Total Land Area | 6.56 AC |
| Price | $5,000,000 |
| Price / SF | $58.00 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 86,200 SF |
| Total Land Area | 6.56 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Matteson Street Apartments
130 N Matteson St, Capac, MI 48014 |
Multifamily | 19,200 SF | 1993 | - |
|
Carson City Senior Apartments
510 N 2nd St, Carson City, MI 48811 |
Multifamily | 18,000 SF | - | - |
|
Mariner Cove Family Apartments
6550 King Rd, Marine City, MI 48039 |
Multifamily | 49,000 SF | 1993 | - |
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Presented by
Greater Development
Mid Michigan Multifamily
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