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5951 N Skeel Ave
Oscoda, MI 48750
Oscoda Senior Condominiums · Multifamily Property For Sale
·
20 Units
Investment Highlights
- All Senior Condo Units
- Value-Add Opportunity; 7/20 Units Remain Unfinished
- Individual Condos Selling for a Significant Premium
- Attractive Amenities; Movie Theater, Fitness Center, Craft Room, and More
Executive Summary
The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of Oscoda Senior Condos in Oscoda, MI. Built in 1990, these 20 condominium units, consist of (16) 540 SF One Bed One Bath Apartments and (4) 810 SF Two Bed One Bath Apartments. The Oscoda Senior Condos boasts several amenities such as a fitness center, movie theater, and a recreating room, just to name a few. Additionally, all utilities are included in the HOA fees, which include water, electricity, internet, cable and snow removal.
The Oscoda Senior Condos are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notable, this asset has unfinished units. While 13/20 Units are finished and rent-ready, the remaining units are unfinished. A new owner could continue to finish the remaining units, allowing them to be rented out. This leaves investors with an opportunity to add additional rent and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.
The Oscoda Senior Condos are being offered to the market as a stabilized cash flowing asset, however, several value-add opportunities present themselves. Most notable, this asset has unfinished units. While 13/20 Units are finished and rent-ready, the remaining units are unfinished. A new owner could continue to finish the remaining units, allowing them to be rented out. This leaves investors with an opportunity to add additional rent and further increase not only cashflow, but also significantly increase value. Due to the attractive location and significant historic cashflow, this opportunity offers the marketplace a significant value add, cash flowing asset. Please contact HMA for more information before this opportunity is gone.
Property Facts
| Price Per Unit | $83,502 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 5.00 AC |
| No. Units | 20 | Building Size | 11,880 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1990 |
| Apartment Style | Mid-Rise | ||
| Zoning | WB3 | ||
| Price Per Unit | $83,502 CAD |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 5.00 AC |
| Building Size | 11,880 SF |
| No. Stories | 4 |
| Year Built | 1990 |
| Zoning | WB3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Business Center
- Laundry Facilities
- Media Center/Movie Theatre
- Lounge
- Multi Use Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 540 |
| 2+1 | 4 | - | 810 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $615,410 CAD | Total Assessment | $615,410 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$615,410 CAD
Improvements Assessment
$0 CAD
Total Assessment
$615,410 CAD
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