NOT LISTED FOR SALE

343 Frakes St Unit 19 Vicksburg, MI 49097

-- Bed
-- Bath
-- Sq Ft
1975 Built

Last Sold February 28, 2012

Last sale price $775,000

331 Days on Market

Highlights

  • 520 Feet of Waterfront
  • Community Lake
  • Window Unit Cooling System
  • Vicksburg High School Rated 10
  • 2 Fireplaces
  • Baseboard Heating

About This Home

As of February 2012

Lake Front 48 unit apartment complex. All units are currently condominiums. Seller is in the process of dissolving the Association and converting all units back to one multi-unit complex. Property is listed with ONE Tax ID number however units 1-48 are included in the sale. Property taxes when units are converted will be based on 1 multi-unit building. Sunset Lake is an all sport lake. Building is across the street from the elementary school and hospital.

Last Agent to Sell the Property

Bonnie Gronado

i-VEST Real Estate Group License #6502348468 Listed on: 02/12/2011

Last Buyer's Agent

Steven Kulich

Michigan Lake & Land LLC License #6502137861

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,662

Year Built

  • Built in 1975

Lot Details

  • 520 Feet of Waterfront
  • Flag Lot

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Composition Roof
  • Vinyl Siding

Parking

  • Carport
  • Paved Parking

Utilities

  • Window Unit Cooling System
  • Window Unit Heating System
  • Baseboard Heating
  • High Speed Internet
  • Phone Available
  • Cable TV Available

Additional Features

  • 2 Fireplaces
  • Water Access

Listing and Financial Details

  • REO, home is currently bank or lender owned
  • Tenant pays for electric
  • The owner pays for trash collection, water, sewer

Community Details

Overview

  • 2 Buildings
  • 48 Units
  • Community Lake

Amenities

  • Laundry Facilities

Building Details

  • Insurance Expense $15,000
  • Manager Expense $18,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,662

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Property Sub-Type: 5+ Units
  • Property Type: Multi-Family
  • Year Built: 1975
  • Location Property Info:Property Sub-Type: 5+ Units
  • General Property Info:Lot Dimensions: IRRG
  • General Property Info:Waterfront3: Yes
  • General Property Info:Basement: No
  • Tax Info:Annual Property Tax: 1662.0
  • Waterfront Options:Water Access YN: Yes
  • General Property Info:Total _pound_ Units: 48
  • General Property Info:Total _pound_ Bldgs: 2.0
  • Roofing:Composition: Yes
  • Utilities Attached:Electric4: Yes
  • Util Avail at Street:Electric: Yes
  • Util Avail at Street:Natural Gas2: Yes
  • Util Avail at Street:Public Sewer: Yes
  • Util Avail at Street:Public Water: Yes
  • Utilities Attached:Cable: Yes
  • Utilities Attached:Natural Gas: Yes
  • Sewer:Public: Yes
  • Water:Public2: Yes
  • Waterfront Options:Water Frontage3: 520.0
  • Util Avail at Street:Broadband: Yes
  • Util Avail at Street:Cable2: Yes
  • Util Avail at Street:Telephone Line2: Yes
  • Utilities Attached:Telephone Line: Yes
  • Substructure:Slab: Yes
  • Air Conditioning:Window Unit(s): Yes
  • Lot Description:Flag Lot: Yes
  • Sale Conditions:REOBank Owned: Yes
  • Heat Type:Baseboard: Yes
  • Extras:Laundry Facility: Yes
  • Special Features: RealEstateOwned
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 2
  • Basement: Slab
  • Basement: No

Exterior Features

  • Construction Materials: Vinyl Siding, Brick
  • List Price: 775000.0
  • Lot Features: Flag Lot, Sidewalk
  • Number of Buildings: 2
  • Road Surface Type: Paved
  • Roof: Composition
  • Water Body Name: Sunset Lake
  • Waterfront: Yes
  • Exterior Material:Vinyl Siding: Yes
  • Driveway Paved: Yes
  • Exterior Material:Brick: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Paved
  • Extras:Carports: Yes

Utilities

  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Heating: Baseboard, Electric
  • Heating: Yes
  • Sewer: Public Sewer
  • Utilities: Phone Available, Public Water Available, Public Sewer Available, Natural Gas Available, Electric Available, Cable Available, Broadband Available, Phone Connected, Natural Gas Connected, Electric Connected, Cable Connected
  • Heat Source:Electric2: Yes

Condo/Co-op/Association

  • Community Features: Lake

Association/Amenities

  • Water Fea Amenities:All Sports: Yes

Lot Info

  • Lot Dimensions: IRRG
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electric

Multi Family

  • Insurance Expense: 15000.0
  • Manager Expense: 18000.0
  • Number of Units Total: 48

Tax Info

  • Tax Annual Amount: 1662.0
  • Tax Year: 2010

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 12, 2011
Closed on
Feb 27, 2012
Sold by
Ardent Service Corporation
Bought by
Sunset Lake Apartments Llc
Seller's Agent
Bonnie Gronado
i-VEST Real Estate Group
Buyer's Agent
Steven Kulich
Michigan Lake & Land LLC
List Price
$1,000
Sold Price
$775,000
Premium/Discount to List
$774,000
77400%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$765,000
Outstanding Balance
$525,250
Interest Rate
3.86%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Mar 8, 2010
Sold by
First Place Bank
Bought by
Ardent Service Corporation
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Sunset Lake Apartments Llc $765,000 Transnation Title Agency
Ardent Service Corporation -- Transnation Title
First Place Bank $176,012 Transnation Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Sunset Lake Apartments Llc $765,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/28/2012 02/28/12 Sold $775,000 +77400.0% --
01/09/2012 01/09/12 Pending -- -- --
02/12/2011 02/12/11 For Sale $1,000 -- --
Source: Southwestern Michigan Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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
2020 -- $0 $0 $0
2018 -- $0 $0 $0
2017 -- $0 $0 $0
2016 -- $0 $0 $0
2015 -- $0 $0 $0
2014 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2012

    Bonnie Gronado

    i-VEST Real Estate Group

    (269) 232-7771

    2 in this area

    43 Total Sales

    Bonnie Gronado
    Section Image

  • S

    Buyer's Agent in 2012

    Steven Kulich

    Michigan Lake & Land LLC

    Section Image
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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 11007497

Southwestern Michigan Association of REALTORS®

APN: 14-13-260-019

Michigan Kalamazoo County Vicksburg 49097

343 Frakes St Unit 19, Vicksburg, MI

This home is located at 343 Frakes St Unit 19, Vicksburg, MI 49097 since 12 February 2011. This property was built in 1975. 343 Frakes St Unit 19 is a home located in Kalamazoo County with nearby schools including Sunset Lake Elementary School, Vicksburg Middle School, and Vicksburg High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwestern Michigan Association of REALTORS® Information is deemed reliable but not guaranteed.
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