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Multifamily

Stonecliff Apartments

615 North Lakeview Ave, Sturgis, MI 49091

Listing Price: $975,000

Number of Units
16
GRM
6.02
Price/Unit
$60,938
Price/Gross SF
$60.94
Gross SF
16,000

Investment Overview

Marcus & Millichap is pleased to present for sale Stonecliff Apartments, located in Sturgis, Michigan.

Investment Highlights

  • Over 10% Proforma Cap Rate
  • Over 12% Proforma Cash-On-Cash Return
  • Light-to-Medium Value Add Opportunity
  • Ability to Charge for Carports
  • 23 Percent Discount to Sale Comp Average in Sturgis

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Multifamily

Stonecliff Apartments

Listing Price: $975,000

Number of Units
16
GRM
6.02
Price/Unit
$60,938
Price/Gross SF
$60.94
Gross SF
16,000

Investment Highlights

  • Over 10% Proforma Cap Rate
  • Over 12% Proforma Cash-On-Cash Return
  • Light-to-Medium Value Add Opportunity
  • Ability to Charge for Carports
  • 23 Percent Discount to Sale Comp Average in Sturgis

Investment Overview

Marcus & Millichap is pleased to present for sale Stonecliff Apartments, located in Sturgis, Michigan.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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