13 unit near South Haven Mi.

Multi-Family for Sale
Catylist Listing ID: 30012333
Property Subtypes: Low-Rise/Garden
Number of Units: 13 Units
Building Size (RSF): 8,010 SF
Gross Building Area: 10,362 SF
Gross Land Area: 7.20 Acres
Sale Price: $550,000
Unit Price: $42,307.69 Per Unit
Property Use Type: Investment
Usable Size (USF): 8,010 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 94
Gross Rent Multiplier: 6.25
Last Updated: 7/6/2017

Overview / Comments

Money making, multi-unit property east of South Haven, and near GingerMan Raceway. Property sits on approximately 5 acre Pitcher Lake, with approximately 165 feet of lake frontage. The seven buildings comprise of 13 rental units, along with 1 building which contains laundry facilities, office and maintenance shop. The over 7 acre property could possibly be expanded, or the lake frontage could possibly be separated and sold off as a potential bonus opportunity.

Additional Details

Nearest MSA: Kalamazoo-Portage
County: Van Buren
Taxing Authority: Geneva Twsp.
Tax ID/APN: 800901100310
Zoning: MULTI FAMILY
Percent Occupied: 100%
Community Amenities: On-Site Maintenance

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 787 2,375 8,508
Median Age: 37.93 41.01 35.62
Households: 277 916 3,063

Contact

Photograph of Listing Agent

Dana Slocum

ERA Network RE (Wayland) Not a member of CARWM

Source

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