754 State Street, Eaton Rapids, MI 48827 - multi-family property

Detailed information about multi-family property which situated in Eaton Rapids (48827) city, Michigan state on 754 State Street.
This terrific 12-unit apartment property is situated near the heart of Eaton Rapids, MI. The State Street location affords quiet living for the residents and a very short walk to the Eaton Rapids public schools for the families living there. Eaton Rapids, just minutes from Lansing — the state capital, shopping malls. colleges, sports facilities, major airports and theater/entertainment venues. A community nestled on the banks of the picturesque Grand River has offered a wholesome environment for families to flourish for years. From its historical business districts, medical facilities, schools, parks and quiet neighborhoods, Eaton Rapids is a friendly place to live, work and visit.

Additional Information: Sperry Van Ness/Stewart Commercial Group, LLC is pleased to present for sale this very nice 12-unit apartment property in Eaton Rapids, MI. The property features (11) 2-bedroom/1 bath units and (1) 1-bedroom/1bath unit situated on close to 1 acre of land across the street from a new high school. Updates include upgraded kitchens with ceramic tile, new boiler installed in 2007, new hot water heater, and vinyl windows installed within the last 10 years. The property also features a carport allowing each unit to have covered parking. Presently the property is 100% occupied. This investment provides a very stable, cash flow opportunity with ease of management and no deferred maintenance. • 100% Occupancy with strong history of stability• 9.45% Capitalization Rate• 12% Cash-on-Cash Return• 5.89% Gross Rent Multiplier• Property in exceptionally good condition• Attractive location near the public schools• Below Market Rents• Low expenses