*** ********* ***, ********, MI
13.03% return
SP:
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Property Description

Fully occupied quads in Michigan!! 

2 quadplexes. 2 3 x 1, 1 2 x 1, 1 1 x 1, and 4 studio x 1. The city features a historic downtown area, boardwalk, marina, museum, lighthouse, an arena and entertainment complex. It is also home to two paper mills, a brass comapny, and many businesses related to tourism and the automotive industry. Property will generate a 13.03% return on investment! 

Property management and financing available.

Property Information

  • Listing statusActive
  • Property typeMulti Family (2 properties)
  • Total units8
  • Total bedrooms9
  • Total bathrooms8
  • Building size4282 sq. ft.
  • Lot size0.1 acres
  • Year built1918
  • County******** County
  • Subdivision********** *********
  • ConstructionFrame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingFORCED AIR
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $300,000
  • Estimated rehab 1 $0
  • Total investment $300,000
  • Type Proforma
  • Gross income (annually) $62,100
  • Operating expenses (annually) $22,998
  • Net income (annually) $39,102
  • Gross return 20.70%
  • Gross income (monthly) $5,175
  • Operating expenses (monthly) $1,917
  • Net income (monthly) $3,259
  • Net return 13.03%

Property Income & Expenses

  • Income
  • Unit 1: 3 bed / 1 bath $825/month $9,900/year
  • Unit 1: 3 bed / 1 bath $825/month $9,900/year
  • Unit 2: 2 bed / 1 bath $725/month $8,700/year
  • Unit 2: 1 bed / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $550/month $6,600/year
  • Unit 3: studio / 1 bath $550/month $6,600/year
  • Unit 4: studio / 1 bath $550/month $6,600/year
  • Unit 4: studio / 1 bath $550/month $6,600/year
  • Total $5,175/month $62,100/year
  • Expenses
  • Property Taxes $442/month $5,298/year
  • Water, Sewer and Waste $600/month $7,200/year
  • Property Management $450/month $5,400/year
  • Lawn care $50/month $600/year
  • Insurance (estimated) $208/month $2,500/year
  • Maintenance reserve $167/month $2,000/year
  • Total $1,917/month $22,998/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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