Multi-Family Apartment in Almont!

Multi-Family for Sale
Catylist Listing ID: 30458326
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Senior Living, Student Housing, Other
Number of Units: 4 Units
Building Size (RSF): 5,174 SF
Gross Land Area: 2 Acres
Sale Price: $275,000
Unit Price: $68,750 Per Unit
Property Use Type: Investment, Business
Building Name: Coach Lite Townhouses Apartment Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/13/2019

Overview / Comments

Start your real estate investment portfolio here! The "Coach Lite Townhouses" has massive appeal to both landlord and tenants alike! 5,174 total square feet of building space makes this building a tremendous value at this price. Enter onto the private-feeling dedicated drive off Van Dyke Road, and head back through the naturally landscaped 2-acre parcel to an expansive concrete parking area with 15 lots! Each unit features their own private entry from the parking lot, and boasts 2 bedrooms, 1 1/2 baths, and a beautiful view of the landscaped back yard area which is perfect for a BBQ or a relaxing moment in a comfy lounge chair. Simple building and roof style, and electric zoned heating with separate meters. This thriving community should be experiencing a growing need for rental opportunities for years to come! Call now!

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Lapeer
Taxing Authority: Almont
Tax ID/APN: 001-004-059-00
Zoning: RM MULTI-FAMILY
Percent Occupied: 100%
Property Located Between: On east side of Van Dyke Road. 1 mile north of Dryden Rd, 2 miles south of I-69.
Highway Access: Located directly off M-53 (Van Dyke), 2 miles south of I-69
Airports: Oakland County- 26 miles, Flint Bishop- 43 miles, Detroit Metropolitan- 51 miles.
Site Description: 2.00 acre rectangular-shaped parcel. Flat. Wooded, natural entrance, opening to large concrete parking lot. Generous side yard and back yard are nicely landscaped and visually pleasing.
Area Description: Almont is a village in Lapeer County. The village is served by the Almont Community School District and the Almont District Library. The area has been predominantly farmland, and is undergoing growth in the retail sector, and is considered to be in the developing stage of its lifecycle.
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 2
Year Built: 1968
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Brick, Wood, Masonry, Aluminum, Other
Parking Ratio: 3.8 (per 1000 SF)
Parking Type: Structure
Parking Description: Large concrete illuminated parking lot and walkways immediately adjacent to building.
Total Parking Spaces: 15
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Electric
Air Conditioning: Other
Internet Access: Satellite
Interior Description: 4 units total. Each unit has 2 bedrooms and 1 1/2 bathrooms. 2 units are 1,117 s.f., and 2 are 923 s.f. 3 units have laundry faciliies. A/C is by window unit, tenant owned. Units have 1 or more ceiling fans.
Zoning Description: RM Multiple Family
Lot Frontage: 136
Lot Depth: 646
Water Service: Well
Sewer Type: Septic
Land Ownership: Private
Legal Description: 01 05 805 000 00 SEC 4 T6N R12E S 2.50 A OF S 1/2 OF SW 1/4 OF NW 1/4 OFSE 1/4. 2.50 A.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,509 3,797 14,754
Median Age: 43 39.87 38.63
Households: 547 1,398 5,385

Contact

Photograph of Listing Agent

Jon D Devine

KW Commercial CPIX Member
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