26474 VILLAGE HEIGHTS Drive, Edwardsburg, MI 49112 (MLS# 16016899)
26474 VILLAGE HEIGHTS Drive, Edwardsburg, MI 49112
$4,200,000
Property Type:
Multi Family
Lot Size (sq. ft.):
1,249,300
Status:
Sold
Current Price:
$4,300,000
List Date:
4/18/2016
Last Modified:
11/05/2021
Description
Multi-Family Portfolio Offering includes Village Heights Apartments, The Retreat, Wild Water Apartments, and two adjacent undeveloped land parcels totalling 7.33 +/- Acres surrounding the properties for future building expansion or wildlife habitat. The This Offering is a performing asset (currently 96% occupancy) that contains a total of 94 units with rental rates from $600 to $1000 per month (two units do not provide income stream since they are used as management office and storage). This Portfolio is managed by a local Management Company with increased occupancy levels since taking over the asset. The tenants are responsible for gas and electric. Municipal utilities serve the Properties. Buyer to be responsible for their own due diligence.
Supplements: . The owner discloses the acquisition of the property was under adverse possession and shall be sold in an "as is" condition. The property was returned to the Lender by Foreclosure or Deed in Lieu. Detailed information on the investment opportunity will be provided after completion of a confidentiality agreement
More Information MLS# 16016899
Location & Property Info
Cross Streets: M-62 and Village Heights Drive
Property Sub-Type: 5+ Units
Municipality: Edwardsburg Vllg
Office/Contract Info
Auction or For Sale: For Sale
List Price/SqFt: 44.33
General Property Info
New Construction: No
Lot Dimensions: 500x2000
Financial Available: No
Road Frontage: 250
Waterfront: No
Basement: No
Total # Units: 96
# of Diff Unit Floor Plans: 4
Total # Bldgs: 8
Total Approx. SqFt All Bldgs: 96997
Total Parking Spaces: 100
School District: Edwardsburg
Lot Measurement: Acres
Lot Square Footage: 1249300
Lot Acres: 28.68
Year Built: 2009
Tax Info
Taxable Value: 1512494
SEV: 1697800
For Tax Year: 2015
Seller's Annual Property Tax: 76084
Tax Year: 2015
Homestead %: 0
Spec Assessment & Ty: 0
Zoning: R3 Multifamily
Tax ID #: 1409110014101102
Remarks & Misc
Legal: long legal and additional parcel numbers in listing office
Status Change Info
Sold Price/SqFt: 43.3
Under Contract Date: 2016-05-19
Sold Date: 2016-07-26
Sold Price: $4,200,000
Street Type
Paved: 1
Public: 1
Util Avail at Street
Electricity Available: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Utilities Attached
Electricity Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Exterior Material
Concrete: 1
Stucco: 1
Wood Siding: 1
Roofing
Composition: 1
Heat Source
Electric: 1
Sale Conditions
REO/Bank Owned: 1
Heat Type
Forced Air: 1
Air Conditioning
Central Air: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Driveway
Paved: 1
Shared Paved: 1
Substructure
Slab: 1
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Location Property Info
County: Cass
Street #: 26474
Street Name: VILLAGE HEIGHTS
Suffix: Drive
State: MI
Zip Code: 49112
Area: Southwestern Michigan - S
OfficeContract Info
Status: Sold
Current Price: $4,200,000
List Price: $4,300,000
Listing Date: 2016-04-01
Remarks Misc
Directions: Edwardsburg is a peaceful village in Cass County Michigan, northeast of South Bend, Indiana. It is situated at the cross roads of M-62 and US 12. In close proximity to some of the most beautiful lakes in Michigan; such as, Eagle, Pleasant and Diamond lakes. Edwardsburg is known for its Blue Ribbon Award winning school system that was featured in US News and World report.
Property Features
Exterior Material: Concrete; Stucco; Wood Siding
Roofing: Composition
Substructure: Slab
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Phone Connected
Util Avail at Street: Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric; Gas
Heat Source: Electric
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Paved; Shared Paved
Street Type: Paved; Public
Terms Available: Cash; Conventional
Sale Conditions: REO/Bank Owned
Listing Office:
Cressy Commercial Real Estate
Listing Agent:
Richard J Doolittle
Last Updated: November - 05 - 2021
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