$2,000,000
Wyoming, MI 49519
MLS# 24042565
Status: Sold
1 / 18
Property Description
22 unit apartment building in a great location. All units are 2Br-1BA. There is coin-operated laundry and individual storage units, in each building. The electrical has individual meters and owner pays for heat (boiler), water/sewer and trash. Rents are well below market. Value add opportunity to increase rents to market as leases expire and implement a utility bill back/RUBS program to recapture some of the utility expense. This could be a great opportunity for your next cost segregation study or 1031 exchange. With limited true value add rental product and the possibility to build more units, makes this property an incredible value add opportunity. Buyer to verify feasibility with City if adding additional units is possible.
Details
Maps
Location Property Info
County: Kent
Street #: 2323
Street Name: 30th
Suffix: Street
Post Direction: SW
State: MI
Zip Code: 49519
Zip (4): 2539
Area: Grand Rapids - G
OfficeContract Info
Status: Sold
Current Price: $2,000,000
List Price: $2,310,000
Listing Date: 2024-08-14
General Property Info
Lot Measurement: Acres
Lot Square Footage: 64699
Lot Acres: 1.49
Lot Dimensions: 0 X 0
Year Built: 1973
New Construction: No
Cert of Compliance: No
Total # Units: 22
# of Diff Unit Floor Plans: 1
Total # Bldgs: 2
Total Parking Spaces: 35
Waterfront: No
School District: Wyoming
Tax Info
Tax ID #: 41-17-15-103-024
Taxable Value: 490015
SEV: 602700
For Tax Year: 2023
Seller's Annual Property Tax: 30357.25
Tax Year: 2023
Spec Assessment & Ty: NK
Zoning: R4
Remarks Misc
Directions: S Off 28th St On Byron Center; E On 30th
Status Change Info
Under Contract Date: 2024-09-10
Sold Date: 2024-12-04
Sold Price: $2,000,000
Access Feat
Accessibility Features: No
Unit 1
Unit Description: Avg - 2 BR
Identical Units: 22
SqFt: 850
Occupied: Yes
Monthly Rent: 994
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Property Features
Laundry Features: Common Area; Gas Dryer Hookup; Laundry Room
Exterior Material: Brick; Vinyl Siding
Roofing: Composition
Substructure: Other
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: Cable Available; Natural Gas Available; Phone Available; Public Sewer; Public Water
Owner Pays: Gas; Sewer; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Hot Water
Air Conditioning: Wall Unit(s)
Terms Available: Cash; Conventional
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: A/C Unit
Listing Office: MOXIE Real Estate + Development
Listing Agent: Shawn Jacobs
Last Updated: December - 04 - 2024
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
