$1,020,000
Edwardsburg, MI 49112
MLS# 22030874
Status: Sold
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Property Description
Great Investment Opportunity! 4 duplex buildings with a total of 8 updated and well maintained units. 3 floor plans (2 2BR, 1.5 units, 2 2BR, 2BA units, and 4 3BR, 2BA units). Great return on investment with opportunity for increased revenue. Units range from 1056-1260 sq ft and each unit has its own 1-car garage, water heater, furnace, AC, and patio. Anderson windows, vaulted ceilings, ancd carpet/tile floors. Great tenants in a low-maintenance neighborhood. Community is tucked away on a private road and is located on ~1.93 acres (to be split off from the 4.25 acre parcel) Conveniently located to Elkhart and within the award-winning school district of Edwardsburg.
Details
Maps
Documents
Location Property Info
County: Cass
Street #: 20097
Street Name: Willow
Suffix: Lane
State: MI
Zip Code: 49112
OfficeContract Info
Status: Sold
Current Price: $1,020,000
List Price: $1,200,000
Listing Date: 2022-07-21
General Property Info
Lot Measurement: Acres
Lot Square Footage: 84071
Lot Acres: 1.93
Lot Dimensions: 300x281
Year Built: 2002
New Construction: No
Financial Available: No
Road Frontage: 281
Total # Units: 8
# of Diff Unit Floor Plans: 3
Total # Bldgs: 4
Total Approx. SqFt All Bldgs: 9464
Total Parking Spaces: 16
Waterfront: No
School District: Edwardsburg
Tax Info
Tax ID #: 14-060-020-338-50
Taxable Value: 295127
SEV: 387400
For Tax Year: 2021
Seller's Annual Property Tax: 8000
Tax Year: 2021
Spec Assessment & Ty: NONE KNOWN
Remarks Misc
Directions: Old M205, south on Autum, Willow Ln at end of cul-de-sac
Status Change Info
Under Contract Date: 2022-12-28
Sold Date: 2023-04-19
Sold Price: $1,020,000
Sold Price/SqFt: 107.78
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: Yes
Income and Expenses
Annual Insurance: 4000
Annual Maintenance: 3200
Annual Utilities: 2430
Gross Op. Inc.: 88980
Net Operating Income: 71350
Operating Expense: 17630
Unit 1
Unit #: 1
Unit Description: 2 bedroom 1.5 bath
Identical Units: 2
SqFt: 1056
Occupied: Yes
Monthly Rent: 820
Bedrooms: 2
Bathrooms: 2
Full Baths: 1
Half Baths: 1
Unit 2
Unit #: 2
Unit Description: 2 bedroom 2 bath
Identical Units: 2
SqFt: 1156
Occupied: Yes
Monthly Rent: 850
Bedrooms: 2
Bathrooms: 2
Full Baths: 2
Unit 3
Unit #: 3
Unit Description: 3 bedroom 2 bath
Identical Units: 4
SqFt: 1260
Occupied: Yes
Monthly Rent: 1018
Bedrooms: 3
Bathrooms: 2
Full Baths: 2
Property Features
Accessibility Feat: 36 Inch Entrance Doo; No Step Entrance
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Slab
Lot Description: Cul-De-Sac; Level
Sewer: Septic Tank
Water: Well
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available
Extras: Garages; Sep Electric Meter; Sep Gas Meter
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: Central Air
Driveway: Concrete
Street Type: Private
Terms Available: Cash; Conventional
Possession: Negotiable
Sale Conditions: None
Unit 1: A/C Unit; Central Air; Deck/Patio; Dishwasher; Garage; Sep. Heat System; W/D Hookup
Unit 2: Central Air; Deck/Patio; Dishwasher; Garage; Sep. Heat System; W/D Hookup
Unit 3: Deck/Patio; Dishwasher; Garage; Sep. Heat System; W/D Hookup
2br, 1.5 ba floorplan Listing Office: Coldwell Banker Real Estate Group
Listing Agent: Tim Murray
Last Updated: April - 26 - 2023
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