Pheasant Run 10000-10010 S Westnedge Ave Immeuble residentiel 24 lots 1 751 060 € (72 961 €/Lot) Taux de capitalisation 7,69 % Portage, MI 49002

This community boasts a great unit mix of 18 two-bedroom and one-bath apartment homes with approximately 775 sf and 6 one-bedroom and one-bath units with approximately 675 sf. Pheasant Run was built in 1980 with mature trees and landscaping and is located just minutes from some of West Michigan’s largest in employers, Phizer and Stryker.
Pheasant Run currently boasts a 100% physical occupancy and has maintained high occupancy levels for many years. This is in large part due to the property’s aforementioned locationas well as its current physical condition.
IPO has projected a Year-One NOI of $153,722based on in-place rents and T12 expenses. If rents are raised to current market rent, the Year-Two NOI would be over$170K.Current average rent across the units are $1,033for the two’s and $913for the one’s.
Pheasant Run is located less than 10 miles from the heart of Kalamazoo and is a well stabilized asset ready for a new owner to take it to the next level.