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Multifamily

Swift Lake Estates

34485 Swiftlake Dr, Lawton, MI 49065

Listing Price: $2,550,000

Cap Rate
6.69%
Number of Units
25
Occupancy
95.0%
Price/Unit
$102,000
Price/Gross SF
$96.57
Gross SF
26,405

Investment Overview

Marcus & Millichap is pleased to present Swift Lake Estates located in Lawton Michigan. This beautiful 33 acre property creates a quiet and resort like feel for tenants to enjoy. Private well and septic are provided by landlord while electricity, and heat are separately metered and paid for by tenants. Each unit has individual furnaces and hot water heaters, as well as window A/C. The units include private balconies/patios, appliances, and in unit washers and dryers. Common amenities include a bbq/picnic area, clubhouse, private lakefront access with 1,000 feet of lake frontage, and plenty of guest parking. Additionally there roughly eighteen storage sheds on the premise that are currently not being charged for tenant use. There is a 2600 square-foot club house, a 750 square-foot garage, a and a pump house in addition to the tenant occupied units. The unit breakdown consists of five one-bed/one-bath units at approximately 520 square-foot. Five two-bed/one-bath units three of which are approximately 620 square-foot two of which are approximately 930 square-foot. Three two-bed/ one-and-one-half bath units at approximately 930 square-foot. One two-bed/ two-bath unit at approximately 930 square-foot. Nine three-bed/one-bath units at approximately 1,055 square-foot. One three-bed/ two-bath unit at approximately 1055 square-foot. One four-bed/one-and-one-half baths at approximately 1,555 square-foot. In addition to the existing units there is existing foundation in place to build another Chalet that was once torn down. New ownership could easily convert the clubhouse into a three-bed / two-bath unit for additional upside potential. There is no visible deferred maintenance at the property including the roads which are in great shape. All tenants have signed year leases at the property, and there is a waitlist for interested tenants. We invite you today to look at this unique investment opportunity in South West Michigan.

Investment Highlights

  • Fully occupied
  • Tenant paid utilities
  • Additional Acreage for parcel splits and development

Exclusively Listed By

Multifamily

Swift Lake Estates

Listing Price: $2,550,000

Cap Rate
6.69%
Number of Units
25
Occupancy
95.0%
Price/Unit
$102,000
Price/Gross SF
$96.57
Gross SF
26,405

Investment Highlights

  • Fully occupied
  • Tenant paid utilities
  • Additional Acreage for parcel splits and development

Investment Overview

Marcus & Millichap is pleased to present Swift Lake Estates located in Lawton Michigan. This beautiful 33 acre property creates a quiet and resort like feel for tenants to enjoy. Private well and septic are provided by landlord while electricity, and heat are separately metered and paid for by tenants. Each unit has individual furnaces and hot water heaters, as well as window A/C. The units include private balconies/patios, appliances, and in unit washers and dryers. Common amenities include a bbq/picnic area, clubhouse, private lakefront access with 1,000 feet of lake frontage, and plenty of guest parking. Additionally there roughly eighteen storage sheds on the premise that are currently not being charged for tenant use. There is a 2600 square-foot club house, a 750 square-foot garage, a and a pump house in addition to the tenant occupied units. The unit breakdown consists of five one-bed/one-bath units at approximately 520 square-foot. Five two-bed/one-bath units three of which are approximately 620 square-foot two of which are approximately 930 square-foot. Three two-bed/ one-and-one-half bath units at approximately 930 square-foot. One two-bed/ two-bath unit at approximately 930 square-foot. Nine three-bed/one-bath units at approximately 1,055 square-foot. One three-bed/ two-bath unit at approximately 1055 square-foot. One four-bed/one-and-one-half baths at approximately 1,555 square-foot. In addition to the existing units there is existing foundation in place to build another Chalet that was once torn down. New ownership could easily convert the clubhouse into a three-bed / two-bath unit for additional upside potential. There is no visible deferred maintenance at the property including the roads which are in great shape. All tenants have signed year leases at the property, and there is a waitlist for interested tenants. We invite you today to look at this unique investment opportunity in South West Michigan.

Exclusively Listed By

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