**BACK ON THE MARKET,***Fully occupied, easy-to-rent, 14 unit apartment building. Tenants pay all utilities after new in unit water meters installed in 2020, new gutters and downspouts installed in 2018, several units have all new appliances. Property management in place, or bring your own. Current NOI $44,316.00 with a cap rate of 16.7%. Room to increase rents to market and boost cap rate to 18%. Coin operated laundry brings in roughly $200/month. Offers encouraged. Please do not disturb tenants, contact the listing agent to schedule showings.
*This Payment Calculator is intended for educational and planning purposes only. **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
Information is provided in part by the IDX program of the MI Realsource Michigan Multiple Listing Service. All information provided is deemed reliable but is not guaranteed and should be independently verified.
Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.