MLS # 26009424 (Michigan Regional Information Center (MichRIC))

*Rare investment opportunity* Well-maintained 4-unit apartment building in Hastings offered for the first time. Each unit has 2 bedrooms and 1 bath and is fully leased with a strong rental history. Current rents are $990 (2 units) and $1,050 (2 units) with upside potential as rents are currently below market rental rates. Landlord pays water and gas. Property features coin laundry in common area, locked tenant storage, private slider door out to a patio or deck and a covered walkway with automatic garage door access for parking. Major components including roof, boiler, and mechanicals have been well maintained. Two long-term tenants (5 and 15 years) are month-to-month, with two units on annual leases. Solid investment opportunity with stable income and room for future rent growth. Call a local trusted Realtor today for operating information or to schedule a tour.
Source: SparkMLS
Closed at $480,000.
Property tax estimate: $5,400 per year ($450/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by Consumers Energy Company.
Location
Construction & Systems
Sale & Financing
Source: SparkMLS
Source: SparkMLS
Legal Description
CITY OF HASTINGS ELY 110 FT LOTS 3 & 4 BLK 4 R J GRANTS ADDITION
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Jess A Webb
Miller Real Estate
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
602 N Church Street, Hastings, MI 49058
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Municipality
Hastings
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