Multi-Family for Sale
Catylist Listing ID: 30650682
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Mid-Rise, Mixed Use, Senior Living, Student Housing, Other
Number of Units: 18 Units
Building Size (RSF): 7,500 SF
Gross Land Area: 0.63 Acres
Sale Price: $125,000
Unit Price: $6,944.44 Per Unit
Property Use Type: Investment, Business
Building Name: Beaver
Usable Size (USF): 7,500 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Gross Rent Multiplier: 10
Last Updated: 7/16/2021

Overview / Comments

2 Leased Apartments, 13 Leased Storage Units.
Net Income: 14,000/yr. with the 1 unfinished and finish outside Siding, most siding needed on site..
Property should bring in Net $25,000.
There is space to expand the storage unit by an additional 15 Units.

Additional Details

Nearest MSA: Bay City
County: Bay
Taxing Authority: Beaver Twp
Tax ID/APN: 020 027 300 025 00
Percent Occupied: 60%
Property Located Between: Willard MI
Highway Access: I-75 & US-10 10 Miles
Airports: MBS, Bay City, Flint
Site Description: Level, creek near for good drainage.
Area Description: Very rural commercial commercial development, 6 Businesses. Farms all around.
Total Number of Buildings: 3
Property Condition: Fair
Number of Stories: 2
Year Built: 2000
Year Renovated: 2000
Roof Type: Gable
Construction/Siding: Metal Siding
Exterior Description: Some new siding needs to be installed on apt. Storage Buildings excellent condition.
Parking Ratio: 10 (per 1000 SF)
Parking Type: Surface
Parking Description: Level.
Total Parking Spaces: 18
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Cable, DSL, ISDN, Satellite, T1/T3, Gigabit, Fiber Optic, Other
Interior Description: Good
Zoning Description: Commercial.
Lot Frontage: 165'
Lot Depth: 166'
Water Service: Municipal
Sewer Type: Septic
Land Ownership: Fee simple
Legal Description: COM 264 FT E OF SW COR OF SEC TH E 166 FT TH N 165 FT TH W 166 FT TH S 165 FT TO BEG. SEC.27,T15N,R3E

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,809 23,630
Median Age: 42.58 39.57
Households: 1,407 9,291


Photograph of Listing Agent

Henry Johnson

Henry Johnson Real Estate & Leasing Company
CPIX Member
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