Investment Opportunity in Saginaw, MI: 3-Unit Multifamily Property with Great Rental Potential
Are you looking for a promising investment opportunity in the real estate market? Look no further! We have an incredible listing for you in Saginaw, MI. Situated at 1619 Court Street, this recently remodeled 3-unit multifamily property is now available for purchase, with a listing price of $159,900. Let's dive into the details and discover why this property is worth your attention.
First and foremost, this property has fantastic income-generating potential. When fully occupied, it can generate a whopping $2,425 in rental income. Currently, the property is yielding $1,625, with only one unit vacant and move-in ready. Unit 1, which is currently unoccupied, has the potential to generate $800 per month in rental income. This means that with a little effort, you could maximize the property's profitability.
What sets this property apart is the recent remodeling work that has been done. Each unit features a new fuse panel, ensuring the safety and convenience of the tenants. Additionally, newer natural gas Goodman furnaces have been installed, providing reliable and efficient heating for each unit.
Furthermore, tenants are responsible for paying their own gas and electric bills, which reduces your monthly expenses. The seller only pays $100 per month for water and $50 for common area electric, making this property even more financially appealing.
In terms of convenience, each tenant has two designated parking spots, and there is additional parking available for guests. The separate access to each apartment ensures privacy and ease of movement for the tenants. Moreover, the location of this property is a major plus — it is within walking distance to Old Town Saginaw, offering tenants easy access to local amenities and entertainment.
Please note that the seller is only considering pre-approved buyers for this listing. If you're interested in this investment opportunity or need further details, don't hesitate to call or text for more information.
In conclusion, the 1619 Court Street listing in Saginaw, MI presents an excellent opportunity to invest in a recently remodeled multifamily property. With a potential rental income of $2,425 when fully occupied, this property has great income-generating potential. The convenience, separate access for each unit, and proximity to Old Town Saginaw are additional advantages that make this listing even more attractive. Don't miss out on this investment opportunity - call or text now to get all the details and make your move!
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