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Barb Lafage

barb@realtorsinmichigan.com +1(248) 619-4746

$2,500,000

32 Beds

32 Baths

14,976 SqFt

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Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Rent

Square Footage 14,976 sqft

Subdivision Attkinson'S Subdivision

MLS Listing ID 58050214851

Style Colonial

Bedrooms 32

Full Baths 16

Half Baths 16

Year Built 1971

Lot Size 1.700 Acres

Acres 1.7

Property Sub-Type MultiFamily

Property Description

Eight duplexes conveniently located on the north end of Port Huron close to shopping and the beach. Units have undergone significant upgrades in the past two years. Fully occupied with a low vacancy rate. Each unit has all separate utilities. The landlord is currently paying some of the water bills but as the leases renew the tenants will be paying their own water bill. 1522/1524 and 1528/1530 both have a 2-car garage, which the landlord currently uses for his own use and could be rented for additional income. The other 12 units have a carport and additional parking available. NOI with a 5% vacancy factor $147,937. Current cap rate 6%. Cap rate after elimination of water expense 6.6

Location

State MI

County St. Clair

Area Area10152Porthuron

Rooms

Basement Partially Finished

Interior

Interior Features EatInKitchen, HighSpeedInternet

Heating Electric, Radiant, Separate Meters

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features FourCarGarage, Covered, Detached, Paved

Garage Spaces 4.0

View Y/N No

Building

Foundation Basement

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Port Huron

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition CorporateRelocation, ShortSaleNo

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Listed by David R Griffor of Realty Executives Home Towne Shelby

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Barb Lafage

+1(248) 619-4746

Agent | License ID: 429252

Agent License ID: 429252

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1600 Holland AVE Port Huron, MI 48060

Barb Lafage

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1600 Holland AVE