70 N Lester Avenue, White Cloud, MI 49349 (MLS# 24054434)
70 N Lester Avenue, White Cloud, MI 49349
$2,620,000
Property Type:
Multi Family
Lot Size (sq. ft.):
135,817
Status:
Active
Current Price:
$2,620,000
List Date:
10/16/2024
Last Modified:
5/09/2025
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
County: Newaygo
Street #: 70
Street Direction: N
Street Name: Lester
Suffix: Avenue
State: MI
Zip Code: 49349
Area: West Central - W
OfficeContract Info
Status: Active
Current Price: $2,620,000
List Price: $2,620,000
Listing Date: 2024-10-15
General Property Info
Lot Measurement: Acres
Lot Square Footage: 135817
Lot Acres: 3.12
Lot Dimensions: 327 x 399
Year Built: 1980
New Construction: No
Cert of Compliance: No
Road Frontage: 327
Total # Units: 32
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Parking Spaces: 40
Waterfront: No
School District: White Cloud
Tax Info
Tax ID #: 11-32-300-039
Taxable Value: 300293
SEV: 311100
For Tax Year: 2022
Annual Property Tax: 27425.33
Tax Year: 2023
Spec Assessment & Ty: NK
Zoning: 201 Commercial
Remarks Misc
Directions: North on 37. Turn left(W) on Pine Hill St, turn right (N) on Lester
Access Feat
Accessibility Features: No
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
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: May - 09 - 2025
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