70 N Lester Avenue, White Cloud, MI 49349

$2,200,000
Property Type: Multi Family Lot Size (sq. ft.): 135,817 Status: Sold
Current Price: $2,620,000 List Date: 6/03/2025 Last Modified: 10/16/2025

Description

32 unit apartment building in a growing submarket, with an attractive unit mix. There is coin-operated laundry and storage units, in each building. The electrical and gas are individually metered. Rents are below market. Value add opportunity to increase rents to market as leases expire. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, some renovations completed are: common area updates, roof and gutters, exterior doors, appliances, unit renovations, parking lot repairs and much more.

More Information MLS# 24054434

Location & Property Info

Cross Streets: North St & Pine Hill Property Sub-Type: 5+ Units Municipality: White Cloud City

Office/Contract Info

Auction or For Sale: For Sale

General Property Info

New Construction: No Lot Dimensions: 327 x 399 Road Frontage: 327 Cert of Compliance: No Waterfront: No Basement: No Total # Units: 32 # of Diff Unit Floor Plans: 4 Total # Bldgs: 2 Total Parking Spaces: 40 School District: White Cloud Lot Measurement: Acres Lot Square Footage: 135817 Lot Acres: 3.12 Year Built: 1980

Tax Info

Taxable Value: 300293 SEV: 311100 For Tax Year: 2022 Seller's Annual Property Tax: 27425.33 Tax Year: 2023 Homestead %: 0 Spec Assessment & Ty: NK Zoning: 201 Commercial Tax ID #: 11-32-300-039

Remarks & Misc

Public Remarks: 32 unit apartment building in a growing submarket, with an attractive unit mix. There is coin-operated laundry and storage units, in each building. The electrical and gas are individually metered. Rents are below market. Value add opportunity to increase rents to market as leases expire. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, some renovations completed are: common area updates, roof and gutters, exterior doors, appliances, unit renovations, parking lot repairs and much more. Legal: PT SW1/4 COM N 0 DEG 34 MIN 17 SEC E 341.28 FT FROM SW SEC COR TH N 0 DEG 34 MIN 17 SEC E 327.1 FT TH N 89 DEG 33 MIN 6 SEC E 399.07 FT TH S 0 DEG 28 MIN 37 SEC W 327.1 FT S 89 DEG 33 MIN 6 SEC W 399.61 FT TO POB SEC 32 T14N R12W CITY OF WHITE CLOUD

Util Avail at Street

Public Sewer: 1 Public Water: 1

Utilities Attached

Electricity Connected: 1 Natural Gas Connected: 1

Sewer

Public Sewer: 1

Water

Public Water: 1

Terms Available

Cash: 1 Conventional: 1

Laundry Features

Common Area: 1

Exterior Material

Vinyl Siding: 1 Wood Siding: 1

Roofing

Composition: 1 Metal: 1

Heat Source

Natural Gas: 1

Sale Conditions

None: 1

Heat Type

Hot Water: 1

Air Conditioning

Wall Unit(s): 1

Access Feat

Accessibility Features: No

Tenant Pays

Electric: 1 Gas: 1

Substructure

Slab: 1

Extras

Garages: 1 Sep Electric Meter: 1 Sep Gas Meter: 1

Owner Pays

Sewer: 1 Trash Collection: 1 Water: 1

Unit 1

Unit Description: 1 BR Identical Units: 8 SqFt: 625 Occupied: Yes Monthly Rent: 731 Bedrooms: 1 Bathrooms: 1 Full Baths: 1

Unit 2

Unit Description: 2 BR Identical Units: 20 SqFt: 800 Occupied: Yes Monthly Rent: 913 Bedrooms: 2 Bathrooms: 1 Full Baths: 1

Unit 3

Unit Description: 3 BR Identical Units: 2 SqFt: 800 Occupied: Yes Monthly Rent: 1060 Bedrooms: 3 Bathrooms: 1 Full Baths: 1

Unit 4

Unit Description: 4 BR Identical Units: 2 SqFt: 1045 Occupied: Yes Monthly Rent: 1045 Bedrooms: 4 Bathrooms: 1 Full Baths: 1

Possession

Close Of Escrow: 1

Location Property Info

County: Newaygo Street #: 70 Street Direction: N Street Name: Lester Suffix: Avenue State: MI Zip Code: 49349 Area: West Central - W

OfficeContract Info

Status: Sold Current Price: $2,200,000 List Price: $2,620,000 Listing Date: 2024-10-15

Remarks Misc

Directions: North on 37. Turn left(W) on Pine Hill St, turn right (N) on Lester

Status Change Info

Under Contract Date: 2025-07-30 Sold Date: 2025-10-15 Sold Price: $2,200,000

Property Features

Laundry Features: Common Area Exterior Material: Vinyl Siding; Wood Siding Roofing: Composition; Metal Substructure: Slab Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: Public Sewer; Public Water Extras: Garages; Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Hot Water Air Conditioning: Wall Unit(s) Terms Available: Cash; Conventional Possession: Close Of Escrow Sale Conditions: None
Listing Office: MOXIE Real Estate + Development
Listing Agent: Shawn Jacobs
IDX
Last Updated: October - 16 - 2025
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