$34,500
$44,900
23.2%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
3 Baths
2,500 SqFt
SOLD DATE : 03/20/2020
Key Details
Sold Price $34,500
Property Type Multi-Family
Sub Type Bungalow
Listing Status Sold
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $13
Subdivision Zagelmeyer & Co'S 1St Add To Wenona
MLS Listing ID 219108760
Sold Date 03/20/20
Style Bungalow
Bedrooms 3
Full Baths 3
Originating Board Realcomp II Ltd
Year Built 1887
Annual Tax Amount $1,428
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 60X130X60X130
Property Description
Long time multi unit property in a very nice section of the City. Rental certified and inspected on an annual basis. Two of the units are currently rented the other was just vacated. The two lower units are one bedroom and the upper unit has two bedrooms. Consistent income producer and possibility of rental increase based on current market conditions. Land contact available at terms to be negotiated with at least $10,000 down. All information subject to verification by prospective buyer. This property was built in the late 1800's and therefore it is not in "like new" condition although it is a safe building to live in as evidenced by the City Inspections over the years and that fact that it has been insured as a rental property. The owner will consider any credible offer and will provide a discount for a cash transaction. At full rent the property can produce a payback of 26% annually which creates a 3.7 year payback at list price. Net annual profit is approximately $12,000.
Location
State MI
County Bay
Area Bay City
Zoning Multi-Family
Direction M25 East to Thomas then to Warner
Rooms
Basement Walk-Up Access
Interior
Hot Water Natural Gas
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Exterior
Exterior Feature Awning/Overhang(s)
Waterfront no
Roof Type Asphalt
Porch Porch
Road Frontage Paved
Garage no
Building
Foundation Basement, Michigan Basement
Sewer Sewer-Sanitary
Water Water at Street
Architectural Style Bungalow
Level or Stories 2 Story
Structure Type Asphalt,Vinyl
Schools
School District Bay City
Others
Pets Allowed Yes
Tax ID 0916002912700800
Ownership Private Owned,Short Sale - No
Acceptable Financing Cash, Land Contract, Warranty Deed
Listing Terms Cash, Land Contract, Warranty Deed
Financing Cash,Land Contract,Warranty Deed
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