1407 W Ellis Avenue, Belding, MI 48809
$975,000 - Sold
- MLS#: 23026738
- Number of Units: 12
- Type: 5+ Units
- School District: Belding
- County: Ionia
- Taxing Authority: Belding City
- Year Built: 1970
- Basement: No
- Air: None
- Lot Size: 198.65 x 660
- Square Footage: 0
- Exterior: Brick, Vinyl Siding
- Water: Public
- Acreage: 3.01
- Heat: Baseboard/Natural Gas
- PPN: 401-040-000-255-00
- Sewer: Public
- Water Body: None
- Water Features: None
- Utilities Attached: Cable,Electric,Natural Gas,Telephone Line
- Utilities Available at Street: Cable,Electric,Natural Gas,Public Sewer,Public Water,Telephone Line
- Extras: Laundry Facility,Sep Electric Meter,Tenant Storage
- Lot Description:
- Frontage/Type: 198 / Street, 0 / Water
- Terms: Cash, Conventional
- Original Price: $1,099,000
- Complex Name:
- Association Amenities:
- Association Includes:
- Directions: Belding Rd East, North on 91, East on Ellis St, Turn right into property.
- Property Description: Rare opportunity to own a 12 unit apartment building in a strong suburban location just outside Grand Rapids. There is a coin operated laundry (Property owned) in each building. Tenants pay for electric, and Owner pays for heat (boiler), water/sewer and trash. Value add opportunity to implement a utility bill back/RUBS program to recapture some of the utility expense. Most leases are month-month and are well below market rates. These buildings are very well maintained and all have new roofs, hot water heater and boiler work. In addition, most of the units have: newer flooring, appliances, updated bathrooms and more. With limited market rate product in Belding, the ability to expand and build more units makes this property an incredible value add opportunity.
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