Lighthouse PM Purchases 81-Unit Multifamily Portfolio In Wyoming And Holland For $6.65M
$6,650,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 29, 2025
AI
The asset involved in this transaction is an 81-unit multifamily portfolio located at 3530 Byron Center Avenue, 2855, 2872, 2875 Taft Avenue, 863, 956 & 857 Lincoln Avenue in Wyoming and Holland, Michigan. The sale was completed for a total price of $6,650,000, resulting in a price per unit of $82,099.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,650,000
- Units: 81
- Price Per Unit: $82,099
- Broker: Aaron Kuroiwa - Marcus & Millichap
- Buyer Representative: Lighthouse PM
- Market: Wyoming & Holland, MI
The brokerage firm Marcus & Millichap facilitated the sale, working on behalf of the seller. The buyer, represented by Lighthouse PM, has plans to renovate the units and enhance the community in response to the strong rental demand within the area.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93