22-Unit Affordable Apartment
For Sale
Contact for pricing
408 Fairway Meadows, Marshall, MI 49068
Two-building Section 42 community with varied floor plans, resident parking, and in-unit laundry.
Property SizeContact for details
Days on Market14
Property Features for 408 Fairway Meadows
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA, 10 x 2BR/2BA, 10 x 3BR/2BA
Multifamily Units
22
Amenities
balconies (select units)
ample parking
in-unit washers and dryers
Building Details
Buildings
2
Listing Agency:
Hull Multifamily Advisors
Listed By:
Austin Hull · License #MI 6502430931
Source:
Crexi
Added: Aug 24
Changed: Sep 5
Last Checked: Sep 5 at 3:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hull Multifamily Advisors
Investment Insights
Based on property information with market context.
Fairway Meadows is a 22-unit affordable housing community consisting of two apartment buildings completed in 2002 and 2004. The property offers one-, two-, and three-bedroom layouts, with select residences featuring balconies and all apartments equipped with in-unit washers and dryers. On-site parking serves the community, while ownership currently covers utilities with utility allowances offsetting part of those costs.
The property operates under Section 42 LIHTC regulations and was 100% occupied at the time of listing. LURA agreements are scheduled to expire in 2033 for Fairway Meadows I and 2035 for Fairway Meadows II, establishing a potential future path toward market-rate housing. The unit mix includes apartments ranging from 820 SF to 1,156 SF, supporting a range of household configurations within the two-building asset.
The property operates under Section 42 LIHTC regulations and was 100% occupied at the time of listing. LURA agreements are scheduled to expire in 2033 for Fairway Meadows I and 2035 for Fairway Meadows II, establishing a potential future path toward market-rate housing. The unit mix includes apartments ranging from 820 SF to 1,156 SF, supporting a range of household configurations within the two-building asset.
Key Highlights
- 22‑unit Section 42 LIHTC affordable housing community
- Two buildings completed in 2002 and 2004
- Unit mix includes 2 one‑bedroom, 10 two‑bedroom, and 10 three‑bedroom apartments
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 49068, MI
14,325
Population
6,901
Households
2.1
Avg Household Size
45
Median Age
36%
College-Educated
96%
High-School Grad
129.9 sq mi
ZIP Area
110
Density / Sq Mi
$78,476
Median Household Income
$47,198
Median Earnings
$904
Median Rent
$196,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building Section 42 community with varied floor plans, resident parking, and in-unit laundry.
Where is this apartment building located?
The property is located at 408 Fairway Meadows Marshall, MI.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 22‑unit Section 42 LIHTC affordable housing community; Two buildings completed in 2002 and 2004; Unit mix includes 2 one‑bedroom, 10 two‑bedroom, and 10 three‑bedroom apartments
