Multifamily
Ashmun Creek Apartments
2410 W 7th St, Sault Ste. Marie, MI 49783
Listing Price: $13,500,000
Investment Overview
Marcus & Millichap is pleased to present the Ashmun Creek Apartments, a well-located multifamily asset at 2410 West 7th Street in Sault Ste. Marie, Michigan. This asset has undergone $1.8 million in extensive capital improvements since 2023, significantly enhancing building systems, curb appeal, and tenant experience. With minimized near-term maintenance, the asset offers a turnkey investment opportunity with clear upside potential. Moreover, Ashmun Creek offers spacious floorplans with rents currently below market, creating a compelling value-add opportunity through continued rent repositioning. The property is also located in a supply-constrained market with limited inventory and low vacancy, resulting in consistently high tenant demand and long-term rent growth potential.
With its recent renovations, strong demand drivers, and operational upside, Ashmun Creek Apartments is well-positioned to deliver stable cash flow and above-market returns in a market with limited competition.
Ashmun Creek Apartments
Investment Highlights
- Extensively Renovated with $1.8M in Capital Improvements Completed Since 2023
- Spacious Units with Rents Below Market, Offering Clear Upside Through Rent Repositioning
- Located in a Tight Market with Limited Inventory and Consistently Low Vacancy
- Significant Capital Work Already Completed, Minimizing Near-Term Maintenance
- Stable Tenant Base in a Resilient Submarket with High Occupancy Rates
- Ideal for Investors Seeking Turnkey Assets with Long-Term Appreciation Potential
Exclusively Listed By
Broker of Record
-
Steve Chaben
Senior Vice President / Regional Manager
Listing Price: $13,500,000
Investment Highlights
- Extensively Renovated with $1.8M in Capital Improvements Completed Since 2023
- Spacious Units with Rents Below Market, Offering Clear Upside Through Rent Repositioning
- Located in a Tight Market with Limited Inventory and Consistently Low Vacancy
- Significant Capital Work Already Completed, Minimizing Near-Term Maintenance
- Stable Tenant Base in a Resilient Submarket with High Occupancy Rates
- Ideal for Investors Seeking Turnkey Assets with Long-Term Appreciation Potential
Investment Overview
Marcus & Millichap is pleased to present the Ashmun Creek Apartments, a well-located multifamily asset at 2410 West 7th Street in Sault Ste. Marie, Michigan. This asset has undergone $1.8 million in extensive capital improvements since 2023, significantly enhancing building systems, curb appeal, and tenant experience. With minimized near-term maintenance, the asset offers a turnkey investment opportunity with clear upside potential. Moreover, Ashmun Creek offers spacious floorplans with rents currently below market, creating a compelling value-add opportunity through continued rent repositioning. The property is also located in a supply-constrained market with limited inventory and low vacancy, resulting in consistently high tenant demand and long-term rent growth potential. With its recent renovations, strong demand drivers, and operational upside, Ashmun Creek Apartments is well-positioned to deliver stable cash flow and above-market returns in a market with limited competition.
Exclusively Listed By
Broker of Record
-
Steve Chaben
Senior Vice President / Regional Manager
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