Before presenting some of the apartment buildings for sale in Michigan, I thought it would be appropriate to add a short description of the US state of Michigan itself.
Michigan is a state located in the north mid-western region of the United States and bordering four of the Great Lakes. This state consists of two peninsulas, the Lower Peninsula and the Upper Peninsula. They are separated by the Straits of Mackinac and connected by the Mackinac Bridge.
It boasts a large 3,200 miles of freshwater coastline. As a result of this resource, Michigan is one of the leading US states for recreational boating and waterfront activities. These water resources are the key to the tourism industry, which is one of Michigan’s largest industries and therefore vital to the state’s economy.
The capital of Michigan is Lansing. The largest city in Michigan is Detroit which is well known for its link to the automotive industry.
2294 Main StHolt, Michigan 48842
This offering is a 25 unit, 5 building garden/low-rise multifamily investment property built in 1970 on 1.63 acres. Located just south of the capital Lansing, the area is known for exceptional schools and is a short walk to Midway Elementary School and local shopping.
Building Size: 19,950 SF Price: $988,870
Price/unit: $39,554 Cap Rate: 8%
Carey Apartments737 Louisa St Lansing, Michigan 48911
This offering is a 46 unit, 2 building garden/low-rise multifamily investment property built in 1971 on 1.63 acres.
Located on Lansing’s Southside, within walking distance to shopping and public transportation provides easy highway access.
Building Size: 37,200 SF Price: $1,500,000
Price/unit: $32,608 Cap Rate: 8.17%
35920 MainNew Baltimore, Michigan 48047
This offering is a 14 unit, 2 storey garden/low-rise multifamily investment property built in 1971.
The management boasts 100% occupancy as the property has a waterfront view of Lake St Clair and is only a short commut to Detroit via via I-94 and only 30 mins to the Canadian border.
Building Size: 12,500 SF Price: $ 649,000
Price/unit: $46,357 Cap Rate: 8.83%
Twin Oaks Meadows3900 Burneway Drive Lansing, Michigan 48911
This offering is a 63 unit garden style senior apartment community constructed in 1994 on 4.48 acres. The complex is located within six miles of downtown Lansing and 3 miles from 1-496 providing easy access to shopping and entertainment hubs.
Building Size: 36,918 SF Price: $1,680,000
Price/unit: $26,666 Cap Rate: 7.5%
Autumn Ridge Apartments3670 Hess Road, Saginaw, Michigan 48601
This offering is a 240 unit garden/low-rise multifamily investment property professionally managed with recent capital improvements to the roof and units. The complex is located on the south side of Saginaw with access to shopping.
Building Size: 1,058,940 SF Price: $7,700,000
Price/unit: $32,083 Cap Rate: 7.75%