670 Kahlil Dr Baldwin, MI 49304
- Apartment buildings
- 56,000 SF
Current Use by Public Records
- Majestic Pines Apartments / Apartment Building
- Kahlil Village Apartments / Apartment Building
Property Details for 670 Kahlil Dr
- Year built
- 1990
- Property size
- 56,000 SF
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents the Majestic Pines Apartment Complex, a well-established property located at 670 Kahlil Dr, Baldwin, MI 49304. Built in 1990, this complex comprises four, two-story buildings encompassing a total of 56,000 square feet of net rentable space. The property currently boasts an 81% occupancy rate and features a desirable mix of 36 one-bedroom and 36 two-bedroom units. Situated in Lake County, Michigan, a region renowned for its abundant lakes, streams, and rivers, Baldwin offers a picturesque setting and attracts numerous tourists. The property's location along the Baldwin River adds to its appeal. Majestic Pines operates as a market-rate property, free from any rent or income restrictions, presenting a significant opportunity for a new owner to implement value-add strategies and increase net operating income. The property's APN is 42-034-016-02, 42-034-016-30. Offered at $3,500,000. This is a prime opportunity to acquire a well-positioned multifamily asset in a desirable location with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baldwin
- County
- Lake
- State
- Michigan
- Longitude
- -85.8532
- Latitude
- 43.9027
