1860 Prairie Pky SW - Apartments FOR SALE


Wyoming, MI 49519
$537,500 USD
616-341-7699
1860 Prairie Pky SW, Wyoming, MI for Sale
$537,500 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

1860 Prairie Pky SW
Wyoming, MI 49519


HIGHLIGHTS

  • Well maintained 4 unit.
  • Value add potential with below market rents.
  • Many capital improvements already completed.

OVERVIEW

Presented by MOXIE Multifamily, this updated 4-unit apartment building is perfectly positioned for your next rental investment. The property features three 2BR units and one 1BR unit, offering a strong unit mix in a great location. The building has undergone many renovations, including a several renovated units, some newer replacement windows, new gutters, fence, retaining wall, upgraded common area and exterior LED lighting and much more — offering investors a well-maintained asset with minimal near-term capital expenditure needs. Additional amenities include coin-operated laundry and individual storage units, adding convenience for tenants and supplemental income potential. Electrical is individually metered, and the owner currently pay heat (boiler), water/sewer, and trash. With rents still below market, there is a value-add opportunity to increase income as leases expire. Implementing a utility bill-back or RUBS program offers further upside by recapturing a portion of utility expenses on all units. Whether you're looking for a house hack, a 1031 exchange vehicle, a cost segregation opportunity, or simply a solid rental investment, this property checks all the boxes. To learn more or arrange a confidential tour, contact us today.

FOR SALE DETAILS

PRICE

$537,500 USD

PRICE/SF

$139 USD /SF

# OF UNITS

4

PRICE/UNIT

$134,375

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R4

APN/PARCEL ID

41-17-15-254-003

ASK ABOUT THIS PROPERTY

Shawn JacobsMOXIE Real Estate + DevelopmentMore Info
616-341-7699

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Shawn JacobsMOXIE Real Estate + DevelopmentMore Info
616-341-7699

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.