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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

94%
94% of sellers in Big Rapids reported that their sale price either exceeded or met their price expectations.

Big Rapids stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 3 reviews in Big Rapids over the last 12 months.

Local market activity for multi families in Big Rapids

In the last 12 months, 10 multi families similar to 411 Maple Street, have been sold.

This represents a 100% decrease in multi families sales when compared to the previous 12 months.

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