Multi-Family Investment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30766553
Number of Units: 26 Units
Building Size (RSF): 13,500 SF
Gross Land Area: 3.39 Acres
Sale Price: $1
Unit Price: $0.04 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/26/2021

Overview / Comments

Located in Caledonia Twp and final project construction to begin Fall of 2021, Portview Flats will consist of three buildings and 26 townhome units. Phase One was completed in early 2020 with 1 building/ 9 units and is currently 100% occupied with a lengthy waitlist. The construction is being done by Midwest Construction and is managed by Pure Real Estate Management.
Every unit is 3 bed/2.5 bath with high end finishes including granite countertops, maple cabinets, and stainless steel appliances as well as 2 stall garages for each unit.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Tax ID/APN: 41-23-06-200-032
Zoning: R4- HIGH DENSITY RESIDENTIAL
Percent Occupied: 100%
Community Amenities: Jogging Paths
Highway Access: M6
Area Description: DIRECTIONS: East Beltline to 60th Street, E to Property
Total Number of Buildings: 3
Property Condition: Excellent
Number of Stories: 2
Year Built: 2020
Roof Type: Flat
Construction/Siding: HardiePlank Siding, Vinyl Siding
Parking Type: Structure, Surface
Parking Description: Each unit has a 2 stall garage.
Laundry: In Each Unit
Heat Type: Natural Gas
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 16,129 86,757
Median Age: 34.79 37.87
Households: 6,459 34,090
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