814 Center Ave - Apartments FOR SALE


Bay City, MI 48708- Downtown Bay City
$800,000 USD
734-812-1724
814 Center Ave, Bay City, MI for Sale
$800,000 USD
Apartments - FOR SALE
1/30
null | 9.1% Cap Rate

814 Center Ave
Bay City, MI 48708
Downtown Bay City


HIGHLIGHTS

  • Walking Distance from Downtown Bay City
  • Favorable 9.1% Cap Rate
  • Recently Implemented Tenant Utility Reimbursement
  • Large Units, Hardwood, Natural Light, On-Site Basement, Covered Garages
  • Below Market Rents, Value-Add Potential

OVERVIEW

GREA is pleased to present the exclusive offering of 814 Center Ave in Bay City, Michigan. This property offers large units averaging 845 sqft and a great location walking distance to downtown Bay City. Recent capex improvements over the past 3 years include electrical upgrades, a new roof on the garage, and a new boiler. Several tenants are paying well below market, giving a new owner significant rental upside opportunity. Visit our listing page at https://grea.com/properties/#/814-center-avenue

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

11

PRICE/UNIT

$72,727

CAP RATE

9.1%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1870

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

C

APN/PARCEL ID

09-160-021-460-004-00

ASK ABOUT THIS PROPERTY

Colin SoltisGREAMore Info
734-812-1724

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Colin SoltisGREAMore Info
734-812-1724

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