$ 1,850,000
2342 AURELIUS Road Holt, MI 48842
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$ 1,850,000
Est. payment | /mo
19 Baths
1.49 Acres Lot
$ 1,850,000
Est. payment | /mo
19 Baths
1.49 Acres Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240081425
Originating Board Realcomp
Year Built 1999
Annual Tax Amount $21,912
Lot Size 1.490 Acres
Acres 1.49
Lot Dimensions 175.80 x 336.00
Property Description
Sugar Pine Apartments is a stabilized, value-add 19 unit apartment building located in Holt, MI. The property consists of eighteen 1 bedroom apartments (800 square feet) one 3 bedroom unit (1,000 square feet) and 9 storage units. The property is 100% occupied grossing $17,295 per month.All 19 units are in one building - that was built in 1999. Each unit is equipped with a window air conditioning unit, along with baseboard heat. There are 28 parking spaces for the 19 units. The units are separately metered for electric which the tenant puts in their name. The heat is supplied through baseboard heat. The landlord pays for water, sewer and trash. Most properties in the area bill back for these utilities, so there is opportunity to increase value through collecting RUBS. The current owner has invested over $100,000 into the building this year including patching, sealing and striping the parking lot, 3 unit renovations, and exterior / common area CAPEX.
Location
State MI
County Ingham
Zoning Multi-Family
Direction Holt
Interior
Heating Baseboard
Exterior
Waterfront No
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Others
Tax ID 33250514151003
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Greater Development LLC
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Tricia Carlson
REALTOR® | Lic# 6506048426