Listed by MOXIE
$3,899,000
Oak Park Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 26,236
Units 42
Cap Rate 7.44%
NOI $297,665
Occupancy 94%
Tenancy Multi
Price per SqFt $149
Year Built 1975
Buildings 2
Stories 2
Acreage 2.067
Zoning MDR
Investment Type Value Add
Multifamily | 7.44% CAP | 42 Units
Marketing description
MOXIE is pleased to exclusively offer Oak Park Apartments for sale, a 42-unit apartment building. Oak Park offers a strong value add opportunity. There are many apartment complexes on Oak Park Dr already renovated, proving out the value add strategy. Current rents remain below market, providing significant upside potential for new ownership. The property has demonstrated strong historical performance and is currently 94% occupied. Oak Park Aprs presents a well-located, stable investment opportunity in the growing Grand Rapids market, ideal for an investor seeking value-add potential and long-term growth. To learn more or arrange a confidential tour, contact [email protected]
Investment highlights
- Below Market Rents
- Value Add Opportunity
- Strong Rental Market
Listing Contacts
Listed by MOXIE
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$297,665.00
$24,805.42/mo
Valuation Metrics
0
DSCR
7.63%
Cap Rate
7.63%
ROI
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