Riverfront Owosso Apartment Investment
For Sale
Contact for pricing
612 River St, Owosso, MI 48867
Fully occupied 6-unit apartment complex with river views.
Property Size4,800 SF
Lot Size0.48 Acres
Price / SF$125
Days on Market201
Property Features for 612 River St
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
10
Lot size
0.48 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Building Details
Units
6
Listing Agency:
Multi Family Innovations
Listed By:
Jonathan King · License #360848
Source:
Crexi
Added: Mar 20
Changed: Sep 12
Last Checked: Oct 5 at 6:52PM
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 Multi Family Innovations
Investment Insights
Based on property information with market context.
Located at 612 River St. in Owosso, MI, the River Street Apartments offer an investment opportunity. This multi-family property features 6 units, totaling 10 bedrooms and 6 full bathrooms. Each unit includes appliances such as a microwave and a gas water heater. The property maintains a 100% occupancy rate, with an average monthly rent of $850 per unit. Built in 1965, the bi-level design provides a spacious interior area of 4,800 square feet. The property is situated on a 0.48-acre lot along the Shiawassee River, offering waterfront views. Its location provides proximity to local amenities.
Key Highlights
- 100% Occupancy Rate: Provides immediate rental income.
- Six Units with Strong Rental Income: Generates $850 per unit monthly.
- Prime Investment Opportunity: Multi‑family apartment complex with income potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,279
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$705,580
$705.6K
Cap Rate 7%
$503,986
$504.0K
Cap Rate 9%
$391,989
$392.0K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$69.1K $14.40/SF
− Vacancy
−$5.0K −$1.04/SF
EGI
$64.1K $13.36/SF
− OpEx
−$28.9K −$6.01/SF
NOI
$35.3K $7.35/SF
Area
Shiawassee County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$705,580
Cap Rate 7%
$503,986
Cap Rate 9%
$391,989
Alternative Uses
Best Use
Apartment 5plus
$504.0K
$441.0K – $588.0K
NOI $35,279 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$915.1K
$800.7K – $1.07M
NOI $64,059 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 48867, MI
27,596
Population
12,660
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
136.0 sq mi
ZIP Area
203
Density / Sq Mi
$58,718
Median Household Income
$37,908
Median Earnings
$834
Median Rent
$145,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully occupied 6-unit apartment complex with river views.
Where is this apartment building located?
The property is located at 612 River St Owosso, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 100% Occupancy Rate: Provides immediate rental income.; Six Units with Strong Rental Income: Generates $850 per unit monthly.; Prime Investment Opportunity: Multi‑family apartment complex with income potential.
