3253 & 3275 Charlesgate Ave SW
3253 Charlesgate Ave SW, Wyoming, MI, 49509
ID 49fb9fba
Overview
Pantheon Commercial is pleased to present the Charlesgate Portfolio, a two-building, 8-unit multifamily offering across two adjacent parcels in Wyoming, Michigan. 3253 Charlesgate Ave SW and 3275 Charlesgate Ave SW are brick 4-plex apartment buildings, each with four 2-bedroom apartment units, combining for 6,504 SF of rentable area on 0.567 acres. The portfolio is 100% occupied on the 8/1/26 rent roll with $8,580 in monthly in-place gross rent ($102,960 annualized) following the recent lease-up of Suite C at 3253 Charlesgate at $1,250 per month.The offering is priced at $995,000, or $124,375 per door, which is in line with the $122,056 average across six recent Wyoming/Kent County multifamily sale comparables within a two-mile radius of the subject. In-place rents across the portfolio range from $950 to $1,250 per month with a $1,073 average per door; the new Suite C lease at $1,250 sets a new high water mark for the portfolio and provides a clear reference point for future lease renewals and mark-to-market execution.
