Listed by NAI Mid-Michigan
$975,000
Corning Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,120
Units 16
Cap Rate 8.70%
Occupancy 81.25%
Tenancy Multi
Rent Bumps Yes
Pro-Forma NOI $78,375
Class C
Year Built 1984
Buildings 2
Stories 2
Lot Size (SqFt) 43,124
Investment Type Value Add
Multifamily | 16-Units | $60,937/Unit
Marketing description
230 & 260 North Corning Street is a multi-family investment. The property offers 16 apartments tailored for long-term tenancy and comfortable living. Durable exterior materials and purposeful common areas support efficient property management while preserving tenant satisfaction. Maintenance Person lives on-site. Recent balcony updates to several units enhance the overall resident experience while remaining budget-friendly for ongoing capital planning. This property suits investors seeking stable occupancy in an easy to care-for asset.
Investment highlights
- The property is in receivership and will require court approval of the purchase agreement.
- Ideal for investor cash flow
- Purpose-built common areas streamline tenant access
- Walking distance to Lear Manufacturing Facility
- Located within a quiet residential pocket of Farwell
- Easy access to Clare and the freeway system
- Property delivers room for value-add updates
- Residential suites tailored for long-term occupancy
Listing Contacts
Listed by NAI Mid-Michigan
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
