Owosso, MI — Multifamily Adaptive Reuse Opportunity 24 Units + 35 Storage Units|Grant-Backed Value-Add Redevelop

This opportunity involves the adaptive reuse of a legacy building in Owosso, Michigan, repositioned into a 24-unit multifamily asset with an additional 35 on-site storage units, creating a diversified, dual-income property.

The project is aligned with MEDC Blue-Zone redevelopment initiatives, significantly reducing rehabilitation risk while supporting downtown revitalization and long-term housing demand.

This is a purpose-driven redevelopment with institutional-grade upside, designed for investors seeking equity creation, stable cash flow, and refinance optionality.

• Grant-backed rehabilitation aligned with MEDC redevelopment goals
• Dual income streams (residential + storage)
• Elevator-served multifamily — rare in the local market
• Strong rental demand with limited competing supply
• Clear path to stabilization and refinance

• Full interior modernization
• Creation of 24 residential units across multiple floors
• Elevator installation and common-area improvements
• Secure basement storage conversion
• Code compliance, safety, and energy-efficient upgrades

The redevelopment plan has been conceptually aligned with municipal goals to support housing availability, accessibility, and economic revitalization.

• Stabilize operations
• Refinance at market DSCR levels to extract equity
• Hold for long-term cash flow or exit at stabilized valuation

This strategy supports both cash-flow investors and value-creation focused capital partners.