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.
|
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 |
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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