5645 Grand River Avenue, Genoa Twp, Michigan 48843
$889,900
Property Details
- MLS#: 71026057768
- Bedrooms: N/A
- Bathrooms: N/A
- Square Feet: N/A
- Lot Size: N/A
- Year Built: 1950
- Property Type: ResidentialIncome
- Transaction: For Sale
- Listing Status: Active
Tax and Assessment Information
Tax and assessment information is unavailable.
Description
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.Efficiently managed, turnkey operation ??? a new roof and new tankless water heater mean major capex is already handled, minimizing deferred maintenance and near-term capital expenditures for the next owner. Coin-operated laundry adds approximately $30/month in supplemental ancillary income, with room to expand this revenue stream. Month-to-month leases offer the incoming owner flexibility to reposition rents or hold for steady in-place cash flow. Ideal for the buy-and-hold investor, apartment investor, or multifamily portfolio builder looking for immediate returns with minimal management burden. Financials, rent roll, and unit-by-unit breakdown available to qualified buyers upon request. Schedule your showing today!
Location
This property is located in Genoa Twp, Michigan. Genoa Twp is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.
Frequently Asked Questions
What is the price of 5645 Grand River Avenue?
5645 Grand River Avenue is listed at $889,900.
How many bedrooms does 5645 Grand River Avenue have?
This property has N/A bedrooms and 0 bathrooms.
Ask about this property
Contact Sonic Realty to verify current availability or ask about this listing. A showing is only arranged after the listing team confirms it.
Phone: (313) 484-4696
Email: info@sonicrealty.com
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