Description
THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 10.5 CAP RATE WITH POTENTIAL PROJECTED 16.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 12 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER/SEWER, SNOW/LAWN AND GARBAGE. 6 UNITS HAVE SEPARATE BD/500 SQ FT AND 6 LARGE EFFICIENCIES.FURTHER, THERE IS A LARGE PARKING LOT AND SEPARATE METERS/ BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 64K PER UNIT!) WARREN CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS! FUSSY OWNER HAS A VERY LONG WAITING LIST! THIS IS A BANK FORECLOSURE, OTHERWISE WOULD NEVER CONSIDER THE SALE OF THIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!! PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE. FURTHER, WE OFFER ANOTHER 2 BLDGS AND ARE ABLE TO DO A PKG DEAL FOR YOU. PLEASE CALL FOR DETAILS!
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IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, ©2022 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Updated: 30th September, 2023 12:16 PM (UTC)
Listing Agent: Wendy L Briggs
Listing Office: First Michigan Realty Corp
