$230,000
$259,900
11.5%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
1.37 Acres Lot
SOLD DATE : 07/31/2019
Key Details
Sold Price $230,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision None
MLS Listing ID 55021035254
Sold Date 07/31/19
Bedrooms 7
Originating Board Jackson Area Association of REALTORS
Year Built 1974
Annual Tax Amount $3,874
Lot Size 1.370 Acres
Acres 1.37
Lot Dimensions 150x400
Property Description
EXCELLENT INVESTMENT OPPORTUNITY - Well maintained, fully rented, 7 Unit Apartment Complex in Parma & Western School District. A unique investment opportunity with all units leased & gross rents totaling over $3,000 per month. Cedar Lane Apartments consists of two well maintained apartment buildings & carport structure on 1.3 acres. 12631 W. Michigan is located in the back & is a Bi-Level design with 2 apts up & 2 down. 12633 W. Michigan has 2 one bedroom apts down & 1 large 2BR apt up. Most of the units have long term tenants. Owner pays for trash removal, water softener rental, electricity for the common areas, & maintenance. Tenants pay their own utilities. Net income does not include management fees or maintenance. All leases run from Jan-June 2019. Minimum of 24-48 hour notice required for all showings; not all units may be available to view at the same time. Measurements are estimated. This incredible, turn key investment property won't last long - call today!
Location
State MI
County Jackson
Area Parma Vlg
Direction I-94 to Michigan Ave Exit 128; North of Exit
Interior
Heating Forced Air
Heat Source Electric, Natural Gas
Exterior
Pool No
Road Frontage Paved
Building
Foundation Slab
Sewer Septic-Existing
Water Well-Existing
Structure Type Brick,Wood
Schools
School District Western
Others
Pets Allowed Yes
Tax ID 000062632600405
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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Bought with ERA Reardon Realty-Summit