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Multifamily

River Oaks Apartments

1733 Oak St, Niles, MI 49120

Listing Price: Request For Offer

Number of Units
59
Occupancy
95.0%
Gross SF
45,000

Investment Overview

Marcus and Millichap is pleased to exclusively offer River Oaks Apartments located in
Niles Michigan. Originally built in 1950 this fifty nine unit complex consists of two
buildings totaling 44,700 square feet. There are fifty-nine units consisting of one studio at
approximately 500 square feet, twenty-two 1 bed 1 bath units at approximately 700 square
feet, and thirty-six 2 bed 1 bath units at approximately 800 square feet. Nineteen 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. In 2021 a boiler was replaced. 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.

Investment Highlights

  • Roofs and facia installed 2018-2019.
  • New parking lot, windows, plumbing, electrical panels, nineteen new units built in 2005-2007.
  • New boiler 2021.
  • On site laundry facility added in 2019.
  • Below market rent.

Exclusively Listed By

Financing By

Multifamily

River Oaks Apartments

Listing Price: Request For Offer

Number of Units
59
Occupancy
95.0%
Gross SF
45,000

Investment Highlights

  • Roofs and facia installed 2018-2019.
  • New parking lot, windows, plumbing, electrical panels, nineteen new units built in 2005-2007.
  • New boiler 2021.
  • On site laundry facility added in 2019.
  • Below market rent.

Investment Overview

Marcus and Millichap is pleased to exclusively offer River Oaks Apartments located in Niles Michigan. Originally built in 1950 this fifty nine unit complex consists of two buildings totaling 44,700 square feet. There are fifty-nine units consisting of one studio at approximately 500 square feet, twenty-two 1 bed 1 bath units at approximately 700 square feet, and thirty-six 2 bed 1 bath units at approximately 800 square feet. Nineteen 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. In 2021 a boiler was replaced. 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.

Exclusively Listed By

Financing By

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