, Lansing, MI 48917 (MLS# 56070)


$225,000
Lansing, MI 48917
MLS# 56070
Status: Closed



Lansing, MI 48917
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Lansing, MI 48917 Lansing, MI 48917 Lansing, MI 48917 Lansing, MI 48917 Lansing, MI 48917 Lansing, MI 48917

Property Description
The list agent has managed this building for 8-9 years and says it's been ''easy'' to manage, rent and maintain. The building is fully occupied and features 5-2bedroom units and 1-1 bedroom unit. Apparently the township only has it listed as a 5 unit because of the limited parking (only 6 spots) but has been to the building on several occasions and knows that the garden unit in the back is also rented and has been for over 20 years and has never said anything about the 6th unit during rental inspections. Buyer would be responsible to verify with Delta township the number of licensed units. Rental history has been great. Landlord pays utils but utils are very reasonable (appx. $900.- $950.00 per month for all of them.) Other expense includes hallway cleaning.

Details
Contract Info
List Price: $225,000
Current Price: $195,000
Lease/List Price/SqFt: 60.29
Location & Legal Info
State: MI
Zip Code: 48917
Key: clo
Township/Tax Authority: Delta Charter Twp
County: Eaton
Legal: Lot 65, Knolls No 1, Delta Township
Directions: Off Sagainaw, 1 Block W of Waverly
General Property Info
Property Sub-Type: Income
# of Units: 6
Year Built: 1964
SqFt - Above Appx: 3732
Parking Total: 6
ECO Friendly Features: No
Tax Info
State Eq Value: 74700
Taxes: 5536
Tax Year: 13
Parcel #: 040-060-500-651-00
Taxable Value: 74700
Zoning: Commercial
Remarks & Misc
Photo Instructions: Office Submit
Status Change Info
Status: Closed
Under Contract Date: 2014-02-27
Sold Date: 2014-04-04
Sold Price: 195000
Leased/Sold Price/SqFt: 52.25
Income & Expenses
Tax Expense: 5536
Total Expense: 27078
Net Operating Income: 17922
Unit 1
Unit: 1
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 595
Tenant Name: Dawn S
Unit 1 Appliances
Disposal: 1
Ovens: 1
Ranges: 1
Refrigerators: 1
Unit 2
Unit: 2
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 600
Tenant Name: Dell
Unit 2 Appliances
Disposal: 1
Ovens: 1
Ranges: 1
Refrigerators: 1
Unit 3
Unit: 3
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 650
Tenant Name: Amanda
Unit 3 Appliances
Disposal: 1
Ovens: 1
Ranges: 1
Refrigerators: 1
Unit 4
Unit: 4
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 595
Tenant Name: Sherri
Unit 4 Appliances
Disposal: 1
Ovens: 1
Ranges: 1
Refrigerators: 1
Unit 5
Unit: 5
Rooms: 5
Baths: 1
Bedrooms: 2
Monthly Income: 650
Tenant Name: Lesley
Unit 5 Appliances
Disposal: 1
Ovens: 1
Ranges: 1
Refrigerators: 1
Unit Information
# Deposits: 5
Property Features
Basement: Partial; Walkout
Exterior: Brick
Water: Public
Sewer: Public Sewer
Extras: Smoke Alarm; Window Air Conditioner
Garage: No Garage
Heating: Hot Water - Gas
Water Heater: Gas Natural
Type: 2 1/2 Story; Colonial
Terms: Cash; Conventional
Showing: 24 Hour Notice; Call List Office; No Sign; Tenant

Listing Office: Stuart & Associates Real Estate LLC

Listing Agent: Lynn Stuart

Last Updated: April - 13 - 2018

Information deemed reliable but not guaranteed.

Friday 21st of September 2018 12:03 PM