Rare opportunity to acquire a 36-unit riverfront asset in downtown Port Huron featuring strong in-place cash flow, significant value-add potential, and a proven repositioning story. Ownership has already completed the heavy lifting, transforming the property from 100% vacant to over 83% occupied, while leaving substantial upside through lease-up and stabilization.
Property Overview:
36-Unit Multifamily Property
Downtown Port Huron Location
Views of the St. Clair River
Professionally Repositioned Asset
30 Units Occupied
6 Units Remaining for Lease-Up / Completion
Current Occupancy: 83%
Financial Overview:
Asking Price: $2,750,000
Price Per Door: $76,388
Current Gross Income: $284,324
Current Expenses: $60,635
Updated NOI: $186,500
Current Cap Rate: 6.8%
Pro Forma Cap Rate: 11.3%
Value-Add Opportunity:
6 units remaining to lease and stabilize
4 units currently under renovation
Renovations expected to be completed by Fall 2026
Projected stabilization near 90% occupancy
Immediate opportunity to increase revenue and NOI
Significant upside without major construction risk
Recent Capital Improvements:
New Trex decking and stair systems (2024)
All new building windows (2025)
Newer roof (2022)
Extensive plumbing upgrades
Extensive electrical upgrades
Water heaters 5 years old or newer
Exterior repainted (2023)
Investment Highlights:
Prime riverfront location
Strong in-place cash flow
Proven lease-up success story
Below replacement-cost basis
Under $77K per door
Attractive current yield
Double-digit pro forma cap rate potential
Minimal heavy renovation risk remaining
Excellent long-term hold opportunity
Why Investors Will Like This Deal:
Ownership has already executed a successful turnaround, taking the property from complete vacancy to strong occupancy levels. The next owner benefits from stabilized operations, ongoing renovations, and the opportunity to capture additional NOI through lease-up and rent growth without undertaking a major repositioning project.
Photos, renovation videos, financials, and due diligence package available upon request.
For fastest response: Cherrie – Dispo Manager Call/Text: (404) 620-2544
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