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700-710 S Dewitt Dr 16 Unit Apartment Building $2,529,043 CAD ($158,065 CAD/Unit) 8.54% Cap Rate Dewitt, MI 48820
Investment Highlights
- Stabilized
- High Income Area
- Value Add
Executive Summary
Park Place Apartments is a stabilized 16 unit apartment building located in Dewitt, MI. The units are all two bedroom one bath, approximately 800 square feet with their own separate entrance. There are four buildings total, with over two parking spots per unit. The property is 100% occupied grossing +$17,500 per month, with an annual gross potential rent of $233,786.
GD will offer tours of the property the week of January 26th. After that week, a call to offers will be held on February 2nd. Offers that are submitted before either of these dates will be considered and potentially accepted.
GD will offer tours of the property the week of January 26th. After that week, a call to offers will be held on February 2nd. Offers that are submitted before either of these dates will be considered and potentially accepted.
Property Facts
| Price | $2,529,043 CAD | Building Class | C |
| Price Per Unit | $158,065 CAD | Lot Size | 1.66 AC |
| Sale Type | Investment | Building Size | 12,668 SF |
| Cap Rate | 8.54% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 3/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | MF, Multiple Family Resid - Commercial Zoned Propertry | ||
| Price | $2,529,043 CAD |
| Price Per Unit | $158,065 CAD |
| Sale Type | Investment |
| Cap Rate | 8.54% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.66 AC |
| Building Size | 12,668 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 3/1,000 SF |
| Zoning | MF, Multiple Family Resid - Commercial Zoned Propertry |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | $1,640 CAD | 750 |
1 1
Property Taxes
| Parcel Number | 200-110-000-091-00 | Improvements Assessment | $379,566 CAD |
| Land Assessment | $55,142 CAD | Total Assessment | $434,709 CAD |
Property Taxes
Parcel Number
200-110-000-091-00
Land Assessment
$55,142 CAD
Improvements Assessment
$379,566 CAD
Total Assessment
$434,709 CAD
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
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Presented by
Greater Development
700-710 S Dewitt Dr
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