Log In/Sign Up
Your email has been sent.
Bundy Hill Apartments 9971 Chicago Rd 5 Unit Apartment Building $435,078 CAD ($87,016 CAD/Unit) 8.80% Cap Rate Jerome, MI 49249
Investment Highlights
- Ability to implement RUBS program
- Close proximity to several lakes, rivers, campgrounds for year round recreation
- New capital improvements to the property and interior of units
Executive Summary
Global Real Estate Advisors are pleased to present the exclusive offering of Bundy Hill Apartments, a stabilized, 5-unit multifamily property in Jerome, MI. The property features a mix of 3 one-bedroom units and 2 two-bedroom units. The property has received recent improvements including updates to the well system, septic field, soffits, and select unit interiors. Utilities are partially metered and billed separately to some tenants which would allow a new owner to establish a proper RUBS policy generating additional operating income and mediating utility expenses.
The property provides stable in-place cash flow with additional upside through operational improvements and the recent updates to the interiors and grounds will help limit near-term capital requirements. Overall, the property presents a strong opportunity for investors seeking a cash-flowing asset with clear value-add potential with pro forma showing an attractive 15% cash-on-cash return and 1.47 DSCR.
The property provides stable in-place cash flow with additional upside through operational improvements and the recent updates to the interiors and grounds will help limit near-term capital requirements. Overall, the property presents a strong opportunity for investors seeking a cash-flowing asset with clear value-add potential with pro forma showing an attractive 15% cash-on-cash return and 1.47 DSCR.
Property Facts
| Price | $435,078 CAD | Building Class | C |
| Price Per Unit | $87,016 CAD | Lot Size | 1.02 AC |
| Sale Type | Investment | Building Size | 44,431 SF |
| Cap Rate | 8.80% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1945/2011 |
| Property Subtype | Apartment | Parking Ratio | 0.45/1,000 SF |
| Zoning | AG-1 | ||
| Price | $435,078 CAD |
| Price Per Unit | $87,016 CAD |
| Sale Type | Investment |
| Cap Rate | 8.80% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.02 AC |
| Building Size | 44,431 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1945/2011 |
| Parking Ratio | 0.45/1,000 SF |
| Zoning | AG-1 |
Amenities
Unit Amenities
- Refrigerator
- Range
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 04-007-200-003-07-5-1 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $97,817 CAD |
Property Taxes
Parcel Number
04-007-200-003-07-5-1
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$97,817 CAD
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Bundy Hill Apartments | 9971 Chicago Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.