OWN THE BLOCK ON ASHMAN! An exceptional investment opportunity in Midland, Michigan! This high-performing mixed-use complex features a diverse and stable income stream across 14 residential units, 4 commercial spaces and two additional detached single family homes all situated on a strategically located parcel in the heart of the City near downtown, schools and shopping. The entire portfolio has professional property management in place with many of the units recently renovated and near full occupancy. The current pro forma net operating income exceeds $91,000+ per year which represents a purchase price cap rate of approx 9.16%. The seller is willing to hold a second position mortgage for the right buyer. This property presents a rarely available income-producing asset in Midland. Buyer may tour any vacant units prior to offer acceptance, and may then tour the entire building during a due diligence period.
General Information
Sale Price: $995,000
Price/SqFt: $124
Status: Active
MLS#: 50181666
City: midland
Post Office: midland
County: Midland
Acres: 0.63
Lot Dim: Irregular
Size: 8,006 sq.ft.
Acreage: 0.63 est.
Year Built: 0
Property Type: Commercial/Industrial
Tax, Fees & Legal
Est. Summer Taxes: $2,025 Est. Winter Taxes: $2,024
Listing Courtesy of: Logan Richetti of Modern Realty
