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411 Maple Street

Big Rapids MI 49307

0.21 ac.
Multi-Family
Currently for sale - view listing

Overview

Fully occupied 6-unit multifamily investment opportunity in Big Rapids near Ferris State University. Unit mix includes five 2 bed/1 bath apartments and one 4 bed/1 bath unit totaling approximately 5,500 sq ft. Tenants pay gas and electric. Each unit has a separate water meter, creating immediate opportunity to bill back water and increase NOI. Coin-op laundry generates approximately $300/month in additional income. Three of six furnaces are newer (under 2 years old), reducing near-term capital expenses. Area 2-bedroom rents are trending closer to $1,050/month, leaving upside through unit turns and light cosmetic updates, particularly Unit 5. Onsite parking for approximately 8 vehicles. Strong rental demand driven by Ferris State and the surrounding employment base makes this a stable cash flow and value-add opportunity.

Features

0.21 ac. lot size
Multi-Family

Property history for 411 Maple Street

2019
Sold
$100,000
21 Jun 2019 by Judy Hoffman, of Crossroads Realty of Michigan

Happy sellers in Big Rapids

~%

We have insufficient information to provide an overview of customer satisfaction for Big Rapids. Viewing the agent profiles, reviews and sales for Big Rapids can provide insights for this location.

Local market activity for multi families in Big Rapids

In the last 12 months, 6 multi families similar to 411 Maple Street, have been sold.

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(619) 566-0008
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