INVESTMENT OPPORTUNITY

Multi-Family for Sale
Catylist Listing ID: 30786693
Property Subtypes: Mixed Use
Number of Units: 8 Units
Building Size (RSF): 11,840 SF
Gross Land Area: 1.46 Acres
Sale Price: $290,000
Unit Price: $36,250 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 5/18/2022

Overview / Comments

Multi-use building. 8 apartments at 100% occupancy; 2 units on 1st floor, and 6 units on the 2nd. The apartments consist of 2 one bedroom units, one on the first floor and one on the 2nd floor and 6 two bedroom units.

The interior of the office area consists of individual office suites with common lavatories and kitchen area. There is currently 3 commercial tenants occupying 1,430 square feet, with approximately 2,100 square feet vacant.

There is a 532 square foot basement with coin operated washer and dryer and storage closets for the apartments

The warehouse in the back consists of 5,400 square feet occupied on a month-to-month basis; There is also 800 square feet of unheated garage storage presently occupied by the previous owner at no charge. Lastly, there is 1,800 square feet currently vacant.

Attachments & Media

Additional Details

Nearest MSA: Saginaw
County: Saginaw
Tax ID/APN: 11-12-4-12-3003-000
Zoning: B-2
Property Located Between: Michigan Avenue and Church Street
Highway Access: 1/2 mile from I-675
Site Description: Three are 2 buildings on the site - one holds the apartments and commercial space, the other is an 8,000 square foot warehouse space
Total Number of Buildings: 2
Property Condition: Fair
Number of Stories: 2
Year Built: 1972
Roof Type: Flat
Exterior Description: The Main building which houses the commercial space and apartments is a Brick/Block/Wood Sided building, with flat rubber membrane roof. The warehouse is wood sided/wood frame with asphalt shingles
Parking Type: Surface
Parking Description: Sufficient parking with designated parking for the apartments
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Air Conditioning: Window Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,279 63,549 114,281
Median Age: 35.81 37.19 36.88
Households: 3,273 25,594 45,792
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