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    324 E Elizabeth Street

    Alma, MI 48801
    • $175,000
    • STATUS: Active
    • ON SITE: 106 Days
    • MLS #: 1889784
    UPDATED: 62 min ago
    $175,000
    • 0
      BEDS
    • 0.55
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,112
      SQFT
    • $83
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1903
    County:
    Area:

    School Ratings & Info

    School District:

    Description

    Rare opportunity with a NET income of almost $17,000 per year! This investment property has a fantastic rental history with at least two current long-term tenants. The main building consists of four 1 bedroom, 1-bathroom units (two upstairs and two downstairs). There is a main floor laundry room, but it is currently not being utilized. There is a 24x24 garage and the lot is slightly more than a half-acre which provides plenty of yard space and parking for tenants. The seller has maintained this property very well, with new shingles and plumbing upgrades about 7 years ago, 2 new wall furnaces about 3 years ago, new front porch 3 years ago and Retro-foam insulation was added throughout the crawl space. To be noted, tenants pay all utilities except the water bill.

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    The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2021 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2021-10-17T16:51:52.737.
    www.boermarealty.com/homes/118945003
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    324 E Elizabeth Street Alma, MI 48801

    • Price: $175,000
    • Status: Active
    • Updated: 62 min ago
    • MLS #: 1889784
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.55
    Acres
    2,112
    SQFT
    $83
    $/SQFT
    1903
    Built
    Neighborhood:
    City Of Alma
    County:
    Gratiot
    Area:
    Gratiot
    School District:
    Alma Public Schools
    Property Description
    Rare opportunity with a NET income of almost $17,000 per year! This investment property has a fantastic rental history with at least two current long-term tenants. The main building consists of four 1 bedroom, 1-bathroom units (two upstairs and two downstairs). There is a main floor laundry room, but it is currently not being utilized. There is a 24x24 garage and the lot is slightly more than a half-acre which provides plenty of yard space and parking for tenants. The seller has maintained this property very well, with new shingles and plumbing upgrades about 7 years ago, 2 new wall furnaces about 3 years ago, new front porch 3 years ago and Retro-foam insulation was added throughout the crawl space. To be noted, tenants pay all utilities except the water bill.
    Exterior Features

    Additional Buildings None Construction Frame Exterior Features None Exterior Finish Vinyl Siding Lot Dimensions 93.80 X 244.65 Primary Garage Two CarDetached Road Public MaintainedBlacktop Roof Asphalt Water Features None

    Interior Features

    Appliances Equipment RefrigeratorOven/RangeAll Units The Same Apx Sqft A 400 Bath A 1 Bdrm A 1 Fireplace And Stoves None Foundation FullEntrance OutsideUnfinished Heating Cooling Type WallWindow Air Conditioner Interior Features Foyer Entrance

    Property Features

    Deeded Waterfront No Development Amenities None Documents On File Sellers DisclosureAgency DisclosureLbp DisclosureTitle Insurance Gross Operating Income 22680 Heating Cooling Sources Natural Gas Included In Lease Water Insurance Expmonthly 111 Lease Terms Year Lease Listing Agreement Type Exclusive Right To Sell Mineral Rights Unknown Monthly Income Amount A 1890 Net Operating Income 16740 Possession Negotiable Property Type 4 - Plex Section Number 3 Sewer Municipal Style 2 Story Summer Taxes 1872.19 Taxable Value 30077 Terms Conventional MortgageCashFha Total Operating Expense 5940 Total Taxes 1945.01 Township City Of Alma Tv Service Internet Avail Cable Internet Type Of Ownership Private Owner Univs Design Barrier Free None Water Municipal Winter Taxes 72.82 Zoning Use Restrictions ResidentialMulti-Family

    Listing information © 2021 Northern Great Lakes REALTORS© MLS.
    Listing provided courtesy of Century 21 Lee-Mac Realty: 989-463-6085.



    The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. © 2021 Northern Great Lakes REALTORS© MLS. All rights reserved. Data last updated: 2021-10-17T16:51:52.737.
     
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    Boerma Realty, LLC
    2008 S Mission St.
    Mt. Pleasant MI, 48858