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Hearthside Apartments 7566 Currier Dr 160 Unit Apartment Building For Sale Portage, MI 49002
Investment Highlights
- Spacious oor plans with private patios/balconies, fully equipped galley-style
- 32 market rate units
- 98% occupied
- kitchens, and in-unit W/D
Executive Summary
The Hearthside is a 160-unit independent senior living community located in Portage, MI, a desirable suburb of the greater Kalamazoo area. The location offers convenient access to healthcare, retail, and major thoroughfares, making it an attractive setting for senior residents.
Originally constructed in 1991 and renovated with LIHTCs in 2011, the community features a mix of one-story walk-up buildings and two-story apartment buildings in a neighborhood-style setting. The buildings are well-maintained and situated across a site with abundant green space, creating a tranquil, park-like environment.
The property includes 128 LIHTC-restricted units and 32 market-rate units and is currently operating at near full occupancy. With in-place rents below market levels, The Hearthside presents an opportunity for continued rent growth and operational upside.
The Hearthside offers investors a stable, income-producing senior housing asset with long-term upside potential in a strong and growing market.
Originally constructed in 1991 and renovated with LIHTCs in 2011, the community features a mix of one-story walk-up buildings and two-story apartment buildings in a neighborhood-style setting. The buildings are well-maintained and situated across a site with abundant green space, creating a tranquil, park-like environment.
The property includes 128 LIHTC-restricted units and 32 market-rate units and is currently operating at near full occupancy. With in-place rents below market levels, The Hearthside presents an opportunity for continued rent growth and operational upside.
The Hearthside offers investors a stable, income-producing senior housing asset with long-term upside potential in a strong and growing market.
Property Facts
| Sale Type | Investment | Building Size | 112,000 SF |
| No. Units | 160 | Average Occupancy | 99% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1991 |
| Apartment Style | Garden | Parking Ratio | 2.66/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 17.25 AC | Parcel Number | 10-00015-353-C |
| Zoning | MF - Commercial Zoned District | ||
| Sale Type | Investment |
| No. Units | 160 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 17.25 AC |
| Building Size | 112,000 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1991 |
| Parking Ratio | 2.66/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF - Commercial Zoned District |
| Parcel Number | 10-00015-353-C |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Refrigerator
- Views
- Patio
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Planned Social Activities
- Walking/Biking Trails
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 130 | - | 658 - 700 |
| 2+1 | 30 | - | 829 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
50/100
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Hearthside Apartments | 7566 Currier Dr
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