1816 Horton Avenue SE, Grand Rapids, MI 49507
$350,000 - Sold
- MLS#: 23021400
- Number of Units: 3
- Type: 2 to 4 Units
- School District: Grand Rapids
- County: Kent
- Taxing Authority: City of Grand Rapids
- Year Built: 1898
- Basement: Yes
- Air: Central Air
- Lot Size: 40*132
- Square Footage: 0
- Exterior: Vinyl Siding
- Water: Public
- Acreage: .12
- Heat: Forced Air/Natural Gas
- PPN: 41-18-06-352-005
- Sewer: Public
- Water Body: None
- Water Features: None
- Utilities Attached: Electric,Natural Gas
- Utilities Available at Street: Electric,Natural Gas,Public Sewer,Public Water,Storm Sewer
- Extras: None
- Lot Description:
- Frontage/Type: 40 / Street, 0 / Water
- Terms: Cash, Conventional
- Original Price: $349,900
- Complex Name:
- Association Amenities:
- Association Includes:
- Directions: Burton to Horton north to the property.
- Property Description: This is a rare 3 unit opportunity with a return that exceeds ''the 1% rule.'' Gross rents are $3,745.00, with potential to increase. Vouchers are now worth $1,985.00 for 3bedrooms in Grand Rapids making it possible to increase the gross rents to $5,495.00 These properties are hard to find in Grand Rapids. The property is fully occupied and the tenants are in good standing with professional management in place. One 3 bedroom unit will be opening up in the next couple of weeks. Separate utilities. The roof was just replaced this year creating a low maintenance property. City Certified until 11/25. Don't miss this opportunity to jump into immediate cash flow.
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