Properties for sale in Michigan

2323 30th Street SW, Wyoming, MI 49519

$2,000,000

Property Type: Multi Family Lot Size (sq. ft.): 64,699 Status: Sold

Current Price: $2,000,000 List Date: 8/15/2024 Last Modified: 12/04/2024

Overview

Description

22 unit apartment building in a great location. All units are 2Br-1BA. There is coin-operated laundry and individual storage units, in each building. The electrical has individual meters and owner pays for heat (boiler), water/sewer and trash. Rents are well below market. Value add opportunity to increase rents to market as leases expire and implement a utility bill back/RUBS program to recapture some of the utility expense. This could be a great opportunity for your next cost segregation study or 1031 exchange. With limited true value add rental product and the possibility to build more units, makes this property an incredible value add opportunity. Buyer to verify feasibility with City if adding additional units is possible.

Listing Details MLS# 24042565

Location Property Info

County: Kent
Street #: 2323
Street Name: 30th
Suffix: Street
Post Direction: SW
State: MI
Zip Code: 49519
Zip (4): 2539

General Property Info

Lot Measurement: Acres
Lot Square Footage: 64699
Lot Acres: 1.49
Lot Dimensions: 0 X 0
Year Built: 1973
New Construction: No
Cert of Compliance: No
Total # Units: 22
# of Diff Unit Floor Plans: Yes
Total # Bldgs: 2
Total Parking Spaces: 35
Waterfront: No
School District: Wyoming

Tax Info

Tax ID #: 41-17-15-103-024
Taxable Value: 490015
SEV: 602700
For Tax Year: 2023
Seller's Annual Property Tax: 30357.25
Tax Year: 2023
Spec Assessment & Ty: NK
Zoning: R4

Remarks Misc

Directions: S Off 28th St On Byron Center; E On 30th

Status Change Info

Under Contract Date: 2024-09-10
Sold Date: 2024-12-04

More Information

Access Feat

Accessibility Features: No

Unit 1

Unit Description: Avg - 2 BR
Identical Units: 22
SqFt: 850
Occupied: Yes
Monthly Rent: 994
Bathrooms: Yes
Full Baths: Yes

Property Features

Laundry Features: Common Area; Gas Dryer Hookup; Laundry Room Exterior Material: Brick; Vinyl Siding Roofing: Composition Substructure: Other Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: Cable Available; Natural Gas Available; Phone Available; Public Sewer; Public Water Owner Pays: Gas; Sewer; Trash Collection; Water Tenant Pays: Electric Heat Source: Natural Gas Heat Type: Hot Water Air Conditioning: Wall Unit(s) Terms Available: Cash; Conventional Possession: Subject To Tenant Rights Sale Conditions: None Unit 1: A/C Unit

Listing Office: MOXIE Real Estate + Development

Listing Agent: Shawn Jacobs

Last Updated: December - 04 - 2024

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.