JB Rentals

Multi-Family for Sale
Catylist Listing ID: 30383934
Property Subtypes: Student Housing, Other
Number of Units: 84 Units
Building Size (RSF): 111,800 SF
Gross Land Area: 12 Acres
Sale Price: $15,000,000
Unit Price: $178,571.43 Per Unit
Property Use Type: Investment, Business
Building Name: JB Rentals
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 12/2/2019

Overview / Comments

Incredible investment opportunity! 84 units/210 beds (the oldest of which was built in 2008) that borders Saginaw Valley State University. Similar student housing nearby charges as much as $700 per bed per month. Each unit has a 2 car garage, full kitchen, laundry hook ups, 2 or 3 beds, central air, patios, and they're all walking distance to the college. If used as student housing we anticipate a Cap rate of over 6%.

42 units have three beds, 1.5 baths and at least 1500 sq ft. The other 42 units have 2 beds, 1.5 baths and at least 1100 sq ft.

Call today!

Attachments & Media

Additional Details

Nearest MSA: Saginaw
County: Saginaw
Taxing Authority: Frankenlust Twp111
Tax ID/APN: 030-014-300-005-00
Zoning: RESIDENTIAL
Property Located Between: College Drive and Bay Road
Highway Access: I-75
Airports: MBS Airport
Total Number of Buildings: 84
Property Condition: Excellent
Number of Stories: 1
Year Built: 2008
Roof Type: Other
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Other
Fuel: Gas
Air Conditioning: Other
Internet Access: Cable
Lot Frontage: 790
Lot Depth: 636
Water Service: Municipal
Sewer Type: Municipal
Legal Description: W 792 FT OF S 20 A OF SE 1/4 OF SW 1/4. SEC 14 T13N R4E

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 8,640 58,243
Median Age: 31.11 38.57
Households: 2,517 23,182

Contact

Photograph of Listing Agent

Howard Ebenhoeh

RE/MAX TriCounty CPIX Member
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