7657 Ann Arbor Road, Jackson, MI 49201 (MLS# 23030362)

7657 Ann Arbor Road, Jackson, MI 49201

$800,000
Property Type: Multi Family Lot Size (sq. ft.): 143,748 Status: Sold
Current Price: $1,300,000 List Date: 8/17/2023 Last Modified: 11/17/2023

Description

Built for locals and commuters alike, this 26-unit rental property is ready for its next investor. Location is key and this property can accommodate those seeking easy access to I-94 for both locals and commuters. 15 of 26 units recently updated. All units have A/C, cable, internet, refrigerator, and microwave. Priced at a CAP Rate of 8.5% this seller is ready to get a transaction closed. Contact Commercial Realtor with your questions.

More Information MLS# 23030362

Location Property Info

County: Jackson Street #: 7657 Street Name: Ann Arbor Suffix: Road State: MI Zip Code: 49201 Zip (4): 9694 Area: Jackson County - JX

OfficeContract Info

Status: Sold Current Price: $800,000 List Price: $1,300,000 Listing Date: 2023-08-17

General Property Info

Lot Measurement: Acres Lot Square Footage: 143748 Lot Acres: 3.3 Lot Dimensions: 338x612 Year Built: 1945 New Construction: No Financial Available: Yes Financial Comments: NDA & Proof of Ability to Purchase Required Road Frontage: 338 Total # Units: 26 # of Diff Unit Floor Plans: 3 Total # Bldgs: 4 Total Approx. SqFt All Bldgs: 9250 Total Parking Spaces: 100 Waterfront: No School District: East Jackson

Tax Info

Tax ID #: 000-09-23-402-006-00 Taxable Value: 149111 SEV: 149111 For Tax Year: 2023 Annual Property Tax: 7860 Tax Year: 2022 Spec Assessment & Ty: None Known Zoning: B-4 Gen

Remarks Misc

Directions: Along I-94, E of Sargent Rd and W of Race Rd. Both provide access to the property.

Status Change Info

Under Contract Date: 2023-10-02 Sold Date: 2023-11-17 Sold Price: $800,000 Sold Price/SqFt: 86.49

Access Feat

Accessibility Features: No

Income and Expenses

Gross Op. Inc.: 208000 Net Operating Income: 112000 Operating Expense: 96000

Unit 1

Unit Description: New Updated Identical Units: 7 Occupied: Yes Bathrooms: 1 Full Baths: 1

Unit 2

Unit Description: Original Updated Identical Units: 8 Occupied: Yes Bathrooms: 1 Full Baths: 1

Unit 3

Unit Description: Original Not Updated Identical Units: 11 Bathrooms: 1 Full Baths: 1

Property Features

Exterior Material: Vinyl Siding Roofing: Composition Substructure: Crawl Space; Full Lot Description: Level Sewer: Septic Tank Water: Well Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected Util Avail at Street: None Extras: Laundry Facility; Tenant Storage Owner Pays: Electricity; Gas; Trash Collection Tenant Pays: None Heat Source: Natural Gas Heat Type: Forced Air; Hot Water; Radiant Air Conditioning: Central Air; Window Unit(s) Driveway: Aggregate Street Type: Paved; Public Terms Available: Cash; Conventional; Tax Def Exchange Sale Conditions: None Unit 1: A/C Unit; Central Air; Refrigerator Unit 2: A/C Unit; Central Air; Refrigerator Unit 3: A/C Unit; Central Air; Refrigerator
Listing Office: Coldwell Banker Beiswanger Realty Group
Last Updated: November - 17 - 2023
7657 Ann Arbor Road, Jackson, MI 49201- MLS# 23030362
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