8-Unit Apartment Complex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30658949
Property Subtypes: Duplex/Fourplex, Other
Status: Pending
Number of Units: 8 Units
Building Size (RSF): 6,600 SF
Gross Building Area: See Agent
Gross Land Area: 23,479 SF
Sale Price: $495,000
Unit Price: $61,875 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Thornapple View Apartments
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/20/2020

Overview / Comments

A rare find & great investment opportunity. This 8 unit apartment complex is perfect for anyone looking to invest in Real Estate & get a nice return on that investment. The current rents appear to be well below market & could be increased substantially. 6 of the leases are currently monthly to month. 2 of them expire March of 2021. Contact us for current income & expenses & potential future income estimates. This is an opportunity that will not be around long, don't delay! Call us today!

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Barry
Tax ID/APN: 085520100500
Zoning: A-2
Percent Occupied: 100%
Property Located Between: N Broadway and Thorn St.
Number of Stories: 2
Year Built: 1972
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: Paved parking area with carports.
Laundry: Shared
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Gas
Interior Description: Shared Coin Laundry
Lot Frontage: 178 Feet
Water Service: Municipal
Sewer Type: Municipal
Legal Description: COM NW COR LOT 240, ORIG PLAN OF THE VILLAGE (NOW CITY) OF HASTINGS, TH N 66FT TH W 20FT FOR POB; TH N 24FT, TH E 8FT, TH N 70FT +/- TO RIVER, TH NW'LY TH E'LY EXT OF N LINE LOT 191 INTO RIVER, TH W TO NE COR LOT 191, TH W 66FT, TH S 132FT, TH E 178FT TO POB. 0.521 ACRES.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,707 8,797 17,144
Median Age: 31.26 39.75 40.05
Households: 1,000 3,468 6,481

Contact

Photograph of Listing Agent

Justin Peck

Miller Real Estate Not a member of CARWM
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