Great opportunity to own this stabilized, turn-key 11-unit portfolio with a CAP rate of 15%. Recently renovated and filled with great tenants. The 11 units are in 3 separate buildings (908 Durand St, 914 Durand St, 2209 Zimmerman St) that are located in a great neighborhood, with walking distance to Kettering University Campus, General Motors Testing Facilities, and McLauren Hospital. Flint is the largest city in the Mid-Michigan area, known as the region where the rural north meets the urban south. Flint is well-known as the birthplace of Big-Three giant General Motors and is also home to several unique cultural attractions like the Flint Children’s Museum, the Flint Institute of Arts, and Crossroads Village & Huckleberry Railroad. In addition, Flint has hosted the summertime three-day Flint Jazz Festival for the past 38 years. General Motors is the largest employer, with 7,500 employees, followed by Genesee Regional Medical Center, McLaren Medical Center, and Hurley Medical Center. Local school districts, Kettering University, and the University of Michigan’s Flint Campus also play a prominent role in local employment. Flint is connected to the Detroit area by Interstate 75 and Lansing to the west by Interstate 69. Bishop International Airport provides nonstop flights nationwide. Steady demand has driven vacancy rates below the 10-year average while keeping rent growth in positive territory. The properties are situated in a nice neighborhood close to everything with high rental demand.
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