9766 Rosehill Rd Berrien Springs, MI 49103
- Commercial real estate
Current Use by Public Records
- Park Manor Apartments / Apartment Building
Property Details for 9766 Rosehill Rd
- Property type
- Commercial real estate
Description
This exceptional 97-unit apartment building in Berrien Springs, Michigan, presents a compelling investment opportunity. Priced at $8,000,000, this Class B multifamily property boasts a strong 6.68% cap rate and a substantial net operating income (NOI) of $534,344. Currently operating at 98.97% occupancy, the property comprises a desirable unit mix: 31 one-bedroom, 59 two-bedroom, and 7 three-bedroom units, averaging 504, 658, and over 1,088 square feet respectively. Built between 1970-1973 (85 units) and 2021 (12 units), Park Manor benefits from significant recent capital improvements, including new roofs, new siding on two-story buildings, partial parking lot replacement, and light renovations (new flooring, paint, and lighting) in approximately 80% of the units. Tenants pay for heat and electricity, with water/sewer managed through a RUBS system. Amenities include an on-site office and common area laundry facilities. The property's proximity (1.8 miles) to Andrews University, a growing Christian college, further enhances its appeal. The property's strong performance and location, coupled with the potential to add 7-8 more units through conversion of existing space, make Park Manor an attractive, turnkey investment with significant upside potential. The current market averages 96.9% occupancy, with no new market-rate developments under construction in the immediate area (Niles, Benton Harbor, Berrien Springs). The address is 9766 Rosehill Rd, Berrien Springs, MI 49103.
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
- Berrien Springs
- County
- Berrien
- State
- Michigan
- Longitude
- -86.340686
- Latitude
- 41.9412256
