Investment Overview

Marcus & Millichap is pleased to exclusively offer River Oaks Apartments located in Niles Michigan. Originally built in 1950 this 59 unit complex consists of two buildings totaling 44,700 square feet. There are 59 units consisting of one studio at approximately 500 square feet, 22 one bed /one bath units at approximately 750 square feet, and 36 two bed / one bath units at approximately 850 square feet. 19 of the units were newly constructed in 2007 within the basement. The community has had many notable capex projects done including new windows in 2005, new parking lot, pex plumbing, and electrical panels in 2007. In 2018 and 2019 new roofs and facias were installed on both buildings. Boilers have been replaced in 2021 and 2024. The owner currently pays for the boiler heat, water, sewer, and trash. The tenants are paying for separately metered electricity, they also pay for the electric A/C. We invite you today to look at this well maintained investment property in Southwest Michigan.