NOT LISTED FOR SALE
8 Beds
4 Baths
-- Sq Ft
3,049 Sq Ft Lot

Last Sold October 30, 2020

Last sale price $430,000

27 Days on Market

About This Home

As of October 2020

This BEAUTIFULLY maintained and recently updated building is the self sufficient investment that you've been looking for! Tear off roof in 2012, updated units done in 2015, and tuck-pointing done in 2018. Copper plumbing, new electrical wiring, 4 legal units, 4 separate gas meters and 4 separate electric meters, 4 separate utility rooms and coin operated laundry makes this thing a truly self sufficient CASH COW. Currently owned by a GC, the owner has been able to easily maintain the building with top quality craftsmanship. Fully rented at market value this could easily yield a 12%+ CAP RATE. Currently 2 units vacant and 2 units occupied: 1 unit is on a lease until the end of August, the other is on a lease until the end of next May (both are paying WAY below market value). Easily rentable to long term tenants being steps away from public transportation, elementary, middle and high schools. FHA/Conventional/Cash, bring your best offer - this is a TURN-KEY investment!

Last Agent to Sell the Property

Levi Kane

Greystone Realty License #475189012 Listed on: 06/28/2020

Last Buyer's Agent

Nick Libert

EXIT Strategy Realty License #471016048

EXIT Strategy Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,496

Year Built

  • Built in 1912 | Remodeled in 2015

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 25x125

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry

Parking

  • 4 Parking Spaces
  • Uncovered Parking

Outdoor Features

  • Enclosed Patio or Porch

Utilities

  • Forced Air Heating System
  • Lake Michigan Water

Community Details

  • 4 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,496

Year Built

Built in 1912 | Remodeled in 2015

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1912
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2015
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2015

Interior Features

  • Basement: Full, Walkout
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Room Type: Enclosed Porch
  • Basement Description: Finished,Exterior Access
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Range Hood
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Range Hood,Hardwood Floors
  • MRD_AppliancesAndFeatures: Range Hood,Hardwood Floors
  • AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner,Range Hood

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Brick

Garage/Parking

  • ParkingTotal: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: N/A

Utilities

  • Sewer: Other
  • Heating: Forced Air
  • Water Source: Lake Michigan

Lot Info

  • Lot Size Acres: 0.07
  • Lot Dimensions: 25X125
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • TenantPays: Electric,Gas,Heat

Tax Info

  • Tax Annual Amount: 5495.69
  • Tax Year: 2018

Multi Family

  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/30/2020 10/30/20 Sold $430,000 -2.3% --
07/25/2020 07/25/20 Pending -- -- --
06/28/2020 06/28/20 For Sale $440,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,333 $47,001 $5,828 $41,173
2024 $6,333 $47,001 $5,828 $41,173
2023 $6,174 $30,000 $4,725 $25,275
2022 $6,174 $30,000 $4,725 $25,275
2021 $6,036 $30,000 $4,725 $25,275
2020 $5,330 $23,912 $3,937 $19,975
2019 $5,590 $27,805 $3,937 $23,868
2018 $5,496 $27,805 $3,937 $23,868
2017 $7,056 $32,760 $3,465 $29,295
2016 $6,565 $32,760 $3,465 $29,295
2015 $6,007 $32,760 $3,465 $29,295
2014 $5,897 $31,761 $3,150 $28,611
2013 $5,302 $31,761 $3,150 $28,611
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10762951

Midwest Real Estate Data (MRED)
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