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Listed by Keller Williams of NM Signature Group
$969,900
Est. payment /mo
3 Baths
13,200 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,200 sqft
Price per Sqft $73
MLS Listing ID 1946983
Style Apartment
Year Built 1950
Lot Size 1.350 Acres
Acres 1.35
Property Sub-Type Multi Family
Property Description
Broadway Apartments is a 15-unit multifamily investment opportunity strategically located along East Broadway in Mount Pleasant, one of Central Michigan's strongest rental markets. The property benefits from its proximity to major employment, education, and entertainment drivers, including Central Michigan University, Soaring Eagle Casino & Resort, and convenient access to US Highway 127, providing connectivity throughout the region. The asset presents investors with an attractive value-add opportunity through a combination of interior unit upgrades and continued rent optimization. Current ownership has established a stable operating foundation, while future ownership can capitalize on the property's upside potential by implementing strategic renovations, modernizing unit interiors, enhancing common areas, and increasing rents toward market levels as leases renew. These improvements have the potential to drive increased cash flow and long-term asset appreciation. Mount Pleasant continues to demonstrate strong rental demand due to its diverse economic base, anchored by higher education, healthcare, gaming, hospitality, and regional employers. The property's location offers residents convenient access to shopping, dining, employment centers, and recreational amenities, making Broadway Apartments well-positioned to attract and retain tenants. Broadway Apartments represents an opportunity to acquire a well-located multifamily asset with existing cash flow, operational stability, and a clear path to increasing net operating income through thoughtful asset management and targeted capital improvements.
Location
State MI
Community Pets Allowed
Interior
Interior Features None, High Speed Internet
Heating Natural Gas
Fireplaces Type Other
Fireplace true
Appliance Refrigerator, Oven/Range
Exterior
Exterior Feature None
Community Features Pets Allowed
Waterfront Description Public
Roof Type Asphalt,Other
Garage false
Building
Foundation Slab, Other
Sewer Public Sewer
Water Public
Architectural Style Apartment
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456