1571 N Hickory Rd
Owosso, MI 48867
Multifamily For Sale · Multifamily Property For Sale

Hickory Manor, located off N Hickory Road, is a multifamily housing complex in Owosso, Michigan. The 44-unit property consists of condos, townhomes, and apartment-style units and is part of a portfolio that also includes ten additional residential units. Spread across two separate quadplexes and a duplex, the additional units sit within 1.2 miles directly south of Hickory Manor. Properties within the portfolio have been meticulously maintained over the years, offering recent capital improvements and new roofing on over 90% of the buildings. Take advantage of this incredible value-add opportunity with several long-term tenants paying rents at considerably below market rates.

This portfolio also features 12 rentable storage garages and vacant acreage for the construction of additional multifamily buildings or storage facilities. The residential units are 100% occupied, with tenants paying utilities. Residents enjoy cable-ready units with spacious floor plans, fully equipped eat-in kitchens, walk-in closets, washer/dryer hookups, dual-pane windows, outdoor patios, and more. Tenants also experience open lawn areas, ample surface parking, and two-car garages for townhome residents.

From the properties, conveniently reach the M-52 main thoroughfare, which provides easy access to dining options, grocery stores, Downtown Owosso, and hassle-free I-69 connectivity within a short drive. The City of Owosso features 12 outdoor parks, the historic Curwood Castle, and an abundance of outdoor recreation activities, including canoeing and kayaking along the picturesque Shiawassee River. Benefit from strong surrounding demographics with a population of nearly 40,000 residents living within a 10-mile radius of the portfolio with an average household income of $65,361 per year.