1019 E Broadway Street
Property Description
Broadway Apartments is a 15-unit multifamily investment opportunity strategically located along East Broadway in Mount Pleasant, one of Central Michigan's strongest rental markets. The property benefits from its proximity to major employment, education, and entertainment drivers, including Central Michigan University, Soaring Eagle Casino & Resort, and convenient access to US Highway 127, providing connectivity throughout the region. The asset presents investors with an attractive value-add opportunity through a combination of interior unit upgrades and continued rent optimization. Current ownership has established a stable operating foundation, while future ownership can capitalize on the property's upside potential by implementing strategic renovations, modernizing unit interiors, enhancing common areas, and increasing rents toward market levels as leases renew. These improvements have the potential to drive increased cash flow and long-term asset appreciation. Mount Pleasant continues to demonstrate strong rental demand due to its diverse economic base, anchored by higher education, healthcare, gaming, hospitality, and regional employers. The property's location offers residents convenient access to shopping, dining, employment centers, and recreational amenities, making Broadway Apartments well-positioned to attract and retain tenants. Broadway Apartments represents an opportunity to acquire a well-located multifamily asset with existing cash flow, operational stability, and a clear path to increasing net operating income through thoughtful asset management and targeted capital improvements.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $969,900 |
| No. of Units: | 15 |
| Year Built: | 1950 |
| Lot Size: | 13,200.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $64,660 |
| Property Website | Click Here |
| Number of Bedrooms: | 23 |
| Number of Bathrooms: | 3 |
ID: 3yd-TAAR-1946983
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
3109 Central Drive
Fort Wayne, Indiana
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout