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Listed by DOUGLAS DAY PROPERTY GROUP
$699,900
Est. payment /mo
2 Baths
7,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active U/C Taking Backups
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $99
MLS Listing ID 1933284
Year Built 2006
Lot Size 3.180 Acres
Acres 3.18
Property Sub-Type Multi Family
Property Description
Exceptional 10-Unit Investment Property Just West of Mt. Pleasant – Strong Income Potential in a Peaceful Country Setting Located just a short drive west of Mt. Pleasant, this 10-unit multifamily investment property offers a rare combination of steady rental income, future development potential, and serene rural surroundings. The property sits on a large parcel of land in a quiet, country setting, providing tenants with a peaceful lifestyle while still being close to city amenities, shopping, and employment hubs. Each of the ten units is thoughtfully designed, featuring two comfortable bedrooms and one full bathroom, making them ideal for individuals, small families, or retirees. The units are well-maintained and consistently rented, with demand driven by the appealing location and practical layout. One of the standout features of this property is the abundant land surrounding the current buildings. There is ample space available for future expansion, including the potential to build additional multifamily buildings or other complementary structures (pending any necessary approvals), which could significantly increase rental income and property value over time. From an operational standpoint, the setup is investor-friendly. Tenants are responsible for their own electricity and heating, which helps reduce the overall operating expenses for the owner. The landlord only covers the electric bill for the shared well system, along with trash service, both of which are manageable fixed costs. Because the property uses a private septic system, there are no monthly sewer charges, further lowering expenses and increasing net cash flow. Additional passive income is generated through the coin-operated laundry machines, conveniently located in two of the buildings. These machines bring in an average of approximately $250 per month, adding another steady revenue stream to the overall income picture. Whether you're looking to hold a stable income-producing asset, expand your
Location
State MI
Rooms
Basement Crawl Space
Interior
Interior Features None, DSL
Heating Baseboard
Fireplaces Type None
Fireplace false
Appliance Refrigerator, Oven/Range
Exterior
Exterior Feature None
Community Features None
Waterfront Description Private
Roof Type Asphalt
Garage false
Building
Story Two
Foundation Slab
Sewer Private Sewer
Water Private
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