$349,000
$379,000
7.9%For more information regarding the value of a property, please contact us for a free consultation.
3133 5th Street Muskegon Heights, MI 49444
5,184 Sqft Lot
Key Details
Sold Price $349,000
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 22008695
Year Built 1930
Annual Tax Amount $1,060
Tax Year 2021
Lot Size 5,184 Sqft
Property Description
In a world were most investment Real Estate offerings do not seem to offer any substantial upside, Here is a good opportunity. This stabilized bundle of 8 single family homes is fully occupied and offered at a 9 cap. These homes are all located within 3 or 4 blocks of each other. They are mostly two bedroom homes and have been professionally managed since 2017 and while they have been updated a little at a time at each turn, there is a ton of opportunity to bring each home to the next level and continue pushing the rents higher. Out of respect for the occupants, all showings/inspections will be scheduled upon acceptance of an offer and verification of funding. This seller is liquidating all of his single family homes in bundles only and will not sell any individually. Thi s makes for an excellent opportunity for a house flipper! The sales price for rehabbed homes in Muskegon Heights is now consistently clearing $100k. The demand is growing rapidly as news is spreading that the city is now working with builders to redevelop the city's vacant lots. The seller is NOT offering owner financing.
Location
State MI
County Muskegon
Area Muskegon County - M
Interior
Heating Forced Air, Natural Gas
Fireplaces Number 8
Exterior
Waterfront No
View Y/N No
Roof Type Composition
Building
Sewer Public Sewer
Structure Type Wood Siding
New Construction No
Schools
School District Muskegon Hts
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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