Canada-based Owner Sells Canton Manor Apartments To Michigan Investor For $3.8 Million

The property asset involved in this transaction is a multifamily community known as Canton Manor Apartments, located at 2105 North Sheldon Road in Canton, Michigan. The property features 55 age-restricted units, covers a total area of 29,049 square feet, and was sold for $3,800,000. The sale price reflects a price per square foot of $131 and a price per unit of $69,091.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $3,800,000
• Address: 2105 North Sheldon Road
• Market: Canton, MI
• Total Square Feet: 29,049
• Price Per Square Foot: $131
• Units: 55
• Price Per Unit: $69,091

Chris Futo and Chase Gilewski from Marcus & Millichap represented the seller in this transaction, which involved a Canada-based owner selling the property to a Michigan investor. The new owner intends to implement renovations and capital improvements to the property.