Riverview Apartments — Sale in Sebewaing, MI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Sebewaing, MI 48759

Photos

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Riverview Apartments — Sale in Sebewaing, MI, photo 2 of 2

Investment Figures

Cap rate
7.87%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Riverview Apartments, a 16-unit multifamily offering located at 234/250 E. Sebewaing Street in Sebewaing, Michigan. The property consists of two well-maintained buildings, each featuring eight upper and lower units, providing an attractive garden-style layout with strong tenant appeal. Ideally positioned in a downtown location, the property is within walking distance of local shops, restaurants, Sebewaing Harbor Marina, and Sebewaing County Park, providing residents with convenient access to the community’s everyday amenities and recreational destinations. The unit mix includes four two-bedroom apartments and twelve one-bedroom apartments, each equipped with refrigerators, stoves, wall air conditioning units, and patio doors leading to private patios or balconies. Tenants are responsible for electric and electric heat, while ownership covers water, sewer, trash removal, lawn care, and snow removal, providing a straightforward expense structure. Utilities are serviced by Sebewaing Light & Water and Emterra Environmental. Residents benefit from on-site coin-operated laundry facilities with three washer and dryer sets updated in 2018 and 2024, as well as dedicated basement storage units for tenants and a large storage/maintenance room for ownership. The property also features a spacious parking lot providing ample off-street parking. Capital improvements include roof replacements completed in 2018, prior to current ownership, along with ongoing interior renovations over the years, including updated flooring, light fixtures, appliances, and wall air conditioning units as needed. Riverview Apartments presents investors with the opportunity to acquire a stabilized, well-maintained asset with a desirable unit layout, strong tenant amenities, and a walkable downtown location in a stable small-town rental market. Investment Highlights: • Rent Growth Potential • Favorable Unit Mix • Downtown Location

Market Context

This multifamily in Sebewaing, MI is listed for sale. It is offered at an approximate 7.9% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Sebewaing, MI — view the full market.

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