$138,000
$149,900
7.9%For more information regarding the value of a property, please contact us for a free consultation.
324 E Elizabeth Street Alma, MI 48801
400 SqFt
Key Details
Sold Price $138,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 400 sqft
Price per Sqft $345
Subdivision City Of Alma
MLS Listing ID 79001333124
Sold Date 02/25/22
Originating Board Central Michigan Association of REALTORS®
Year Built 1903
Annual Tax Amount $1,945
Lot Size 0.550 Acres
Acres 0.55
Lot Dimensions 93.80 x 244.65
Property Description
Rare opportunity with a NET income of almost $17,000 per year! This investment property has a fantastic rental history with at least two current long-term tenants. The main building consists of four 1 bedroom, 1-bathroom units (two upstairs and two downstairs) and all four apartments are currently rented. There is a main floor laundry room, but it is currently not being utilized. There is a 24x24 garage and the lot is slightly more than a half-acre which provides plenty of yard space and parking for tenants. The seller has maintained this property very well, with new shingles and plumbing upgrades about 7 years ago, 2 new wall furnaces about 3 years ago, new front porch 3 years ago and Retro-foam insulation was added throughout the crawl space. To be noted, tenants pay all utilities except the water bill.
Location
State MI
County Gratiot
Area Alma
Zoning Multi-Family,Residential
Interior
Heating Wall/Floor Furnace
Cooling Wall Unit(s)
Fireplace no
Heat Source Natural Gas
Exterior
Waterfront no
Garage no
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Level or Stories 2 Story
Schools
School District Alma
Others
Pets Allowed Yes
Tax ID 5103432000
Ownership Private Owned
Acceptable Financing Cash, FHA
Listing Terms Cash, FHA
Financing Cash,FHA
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Bought with CENTURY 21 LEE-MAC REALTY