70 N Lester Avenue, White Cloud, MI 49349 (MLS# 24054434)
70 N Lester Avenue, White Cloud, MI 49349
$2,200,000
Property Type:
Multi Family
Lot Size (sq. ft.):
135,817
Status:
Sold
Current Price:
$2,620,000
List Date:
6/03/2025
Last Modified:
10/16/2025
Description
32 unit apartment building in a growing submarket, with an attractive unit mix. There is coin-operated laundry and storage units, in each building. The electrical and gas are individually metered. Rents are below market. Value add opportunity to increase rents to market as leases expire. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, some renovations completed are: common area updates, roof and gutters, exterior doors, appliances, unit renovations, parking lot repairs and much more.
More Information MLS# 24054434
Location & Property Info
Cross Streets: North St & Pine Hill
Property Sub-Type: 5+ Units
Municipality: White Cloud City
Office/Contract Info
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: 327 x 399
Road Frontage: 327
Cert of Compliance: No
Waterfront: No
Basement: No
Total # Units: 32
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Parking Spaces: 40
School District: White Cloud
Lot Measurement: Acres
Lot Square Footage: 135817
Lot Acres: 3.12
Year Built: 1980
Tax Info
Taxable Value: 300293
SEV: 311100
For Tax Year: 2022
Seller's Annual Property Tax: 27425.33
Tax Year: 2023
Homestead %: 0
Spec Assessment & Ty: NK
Zoning: 201 Commercial
Tax ID #: 11-32-300-039
Remarks & Misc
Public Remarks: 32 unit apartment building in a growing submarket, with an attractive unit mix. There is coin-operated laundry and storage units, in each building. The electrical and gas are individually metered. Rents are below market. Value add opportunity to increase rents to market as leases expire. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, some renovations completed are: common area updates, roof and gutters, exterior doors, appliances, unit renovations, parking lot repairs and much more.
Legal: PT SW1/4 COM N 0 DEG 34 MIN 17 SEC E 341.28 FT FROM SW SEC COR TH N 0 DEG 34 MIN 17 SEC E 327.1 FT TH N 89 DEG 33 MIN 6 SEC E 399.07 FT TH S 0 DEG 28 MIN 37 SEC W 327.1 FT S 89 DEG 33 MIN 6 SEC W 399.61 FT TO POB SEC 32 T14N R12W CITY OF WHITE CLOUD
Util Avail at Street
Public Sewer: 1
Public Water: 1
Utilities Attached
Electricity Connected: 1
Natural Gas Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Laundry Features
Common Area: 1
Exterior Material
Vinyl Siding: 1
Wood Siding: 1
Roofing
Composition: 1
Metal: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Hot Water: 1
Air Conditioning
Wall Unit(s): 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Substructure
Slab: 1
Extras
Garages: 1
Sep Electric Meter: 1
Sep Gas Meter: 1
Owner Pays
Sewer: 1
Trash Collection: 1
Water: 1
Unit 1
Unit Description: 1 BR
Identical Units: 8
SqFt: 625
Occupied: Yes
Monthly Rent: 731
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 2 BR
Identical Units: 20
SqFt: 800
Occupied: Yes
Monthly Rent: 913
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 3
Unit Description: 3 BR
Identical Units: 2
SqFt: 800
Occupied: Yes
Monthly Rent: 1060
Bedrooms: 3
Bathrooms: 1
Full Baths: 1
Unit 4
Unit Description: 4 BR
Identical Units: 2
SqFt: 1045
Occupied: Yes
Monthly Rent: 1045
Bedrooms: 4
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Location Property Info
County: Newaygo
Street #: 70
Street Direction: N
Street Name: Lester
Suffix: Avenue
State: MI
Zip Code: 49349
Area: West Central - W
OfficeContract Info
Status: Sold
Current Price: $2,200,000
List Price: $2,620,000
Listing Date: 2024-10-15
Remarks Misc
Directions: North on 37. Turn left(W) on Pine Hill St, turn right (N) on Lester
Status Change Info
Under Contract Date: 2025-07-30
Sold Date: 2025-10-15
Sold Price: $2,200,000
Property Features
Laundry Features: Common Area
Exterior Material: Vinyl Siding; Wood Siding
Roofing: Composition; Metal
Substructure: Slab
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: Public Sewer; Public Water
Extras: Garages; Sep Electric Meter; Sep Gas Meter
Owner Pays: Sewer; Trash Collection; Water
Tenant Pays: Electric; Gas
Heat Source: Natural Gas
Heat Type: Hot Water
Air Conditioning: Wall Unit(s)
Terms Available: Cash; Conventional
Possession: Close Of Escrow
Sale Conditions: None
Listing Office:
MOXIE Real Estate + Development
Listing Agent:
Shawn Jacobs
Last Updated: October - 16 - 2025
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