$600,000
$699,999
14.3%For more information regarding the value of a property, please contact us for a free consultation.
33 Beds
36 Baths
18,000 SqFt
SOLD DATE : 01/19/2018
Key Details
Sold Price $600,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 18,000 sqft
Price per Sqft $33
Subdivision Evergreen Park No 1
MLS Listing ID 217042620
Sold Date 01/19/18
Style Duplex
Bedrooms 33
Full Baths 36
Originating Board Realcomp II Ltd
Year Built 1972
Annual Tax Amount $10,434
Lot Size 0.980 Acres
Acres 0.98
Lot Dimensions 429x101
Property Description
THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 13.4 CAP RATE WITH POTENTIAL PROJECTED 19.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 35 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER. 33 UNITS HAVE SEPARATE BD/550 SQ FT AND 2 LARGE EFFICIENCIES.FURTHER, THERE ARE 2 UTILITY BLDGS AND SEPARATE METERS/2 STORAGE FACILITIES IN EACH OF THE BLDGS AND A SEPARATE SPACIOUS LEASING OFFICE WITH BATH.2 BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 50K PER UNIT!) BURTON CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS!FUSSY LANDLORD HAS A VERY LONG WAITING LIST! SELLER FORCED AND MUST TRANSFER TO CA, OTHERWISE WOULD NEVER CONSIDER THE SALE OF HIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!!
PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE
Location
State MI
County Genesee
Area Flint
Zoning Multi-Family
Direction WEST OF CENTER RD SOUTH SIDE OF LIPPINCOTT
Interior
Interior Features Cable Available, High Spd Internet Avail, Laundry Facility
Hot Water Electric, Separate Meters
Heating Baseboard
Cooling Ceiling Fan(s)
Heat Source Electric
Exterior
Exterior Feature Outside Lighting, Private Entry, Satellite Dish
Garage Spaces 53.0
Pool No
Roof Type Asphalt
Accessibility Interior Disabled Facilities
Porch Porch
Road Frontage Paved
Building
Foundation Slab
Sewer Sewer at Street, Sewer-Sanitary
Water Municipal Water
Architectural Style Duplex
Level or Stories 1 Story
Structure Type Brick
Schools
School District Flint
Others
Pets Allowed Yes
Tax ID 4116482014
Ownership Private Owned,Short Sale - No
SqFt Source PRD
Acceptable Financing Cash, Land Contract
Rebuilt Year 2016
Listing Terms Cash, Land Contract
Financing Cash,Land Contract
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
©2024 Realcomp II Ltd. Shareholders
Bought with First Michigan Realty Corp