$889,900

Multi Family In Howell

  • 43,560 Sqft lot
  • Updated: October 31
  • Source:
    MiRealSource  MLS#70567421

About the Property

NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property -- fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passi
NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property -- fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passive income investor seeking a low-maintenance, income-producing asset. Unit mix: 3 studio units + 7 one-bedroom/one-bath units -- a diversified, in-demand mix that appeals to a broad tenant base and supports strong occupancy. 100% occupied with a stable, diversified rent roll: a mix of Section 8 / state-paid housing assistance tenants and conventional month-to-month tenants, providing reliable, partially government-backed cash flow with built-in rent stability.
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  • Property type

    Other

  • Year built

    1950

Features

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5645 E Grand River Avenue, Howell, Michigan, United States View on Google Maps
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United Realty Services - Grand Rapids

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United Realty Services - Grand Rapids
Michigan, United States
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2026
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United Realty Services - Grand Rapids
Grand Rapids, Michigan, United States
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Last updated
October 31
First listed
October 31
Listing reference
70567421
Listing status
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