9766 Rosehill RdBerrien Springs, MI 49103

Property Details for 9766 Rosehill Rd

Property type

Apartment buildings

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.

Location Insight

City

Berrien Springs

County

Berrien

State

Michigan

Latitude

41.9412

Longitude

-86.3407

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