830 Water Tower RdBig Rapids, MI 49307

For Sale
$20,250,000
Luxury Big Rapids Apartments, 120 Units, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
126
Eight Thirty Water Tower, a premier student housing apartment building in Big Rapids, Michigan, is available for acquisition at $20,250,000. This exceptional property, built in 2019, boasts 120 units and a total of 130,000 square feet, offering 318 fully furnished beds. Situated on a 6.15-acre lot, its prime location offers unparalleled convenience, being within walking distance of Ferris State University. The property's strategic location also provides easy access to the university's football stadium, various restaurants, a golf course, and major highways. Currently enjoying a 93% occupancy rate for the 2024/2025 academic year, Eight Thirty Water Tower represents a stable, cash-flowing investment opportunity. The land value is substantial, with a price per square foot of $267,894. This modern building offers numerous amenities, making it a highly desirable residence for students. The property's strong performance and prime location make it an attractive investment for those seeking a high-return, low-risk opportunity in the student housing market. The address is 830 Water Tower Rd, Big Rapids, MI 49307, located in Mecosta County.

Highlights

  • $20,250,000 asking price for Eight Thirty Water Tower student housing.
  • 120-unit, 130,000-square-foot building with 318 beds, built in 2019.
  • Located on a 6.15-acre lot in Big Rapids, MI, within walking distance of Ferris State University.
  • 93% occupancy for the 2024/2025 academic year.
  • 830 Water Tower Rd, Big Rapids, MI 49307 (Mecosta County).

Property Details for 830 Water Tower Rd

Property type
Apartment buildings
Square Feet
130,000 SF
Year Built
2019
Lot Size (sq. ft)
267,894 SF
Units
120

Location Insight

City
Big Rapids
County
Mecosta
State
Michigan
Latitude
43.688508
Longitude
-85.4975665
830 Water Tower Rd, Big Rapids, Michigan

FAQs

What type of property is this?
Apartment building - Luxury Big Rapids Apartments, 120 Units, High Occupancy
Where is the apartment building located?
The property is located at 830 Water Tower Rd Big Rapids, MI.
What is the asking price?
The asking price for this property is $20,250,000.
What are key features of this property?
This property features: $20,250,000 asking price for Eight Thirty Water Tower student housing.; 120-unit, 130,000-square-foot building with 318 beds, built in 2019.; Located on a 6.15-acre lot in Big Rapids, MI, within walking distance of Ferris State University.
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830 Water Tower Rd
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