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5645 E Grand River Avenue Howell, MI 48843-9196
1 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 70567421
Year Built 1950
Annual Tax Amount $7,061
Tax Year 2025
Lot Size 1.000 Acres
Acres 1.0
Lot Dimensions 104x40
Property Sub-Type Multi-Family
Property 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.
Location
State MI
County Livingston
Area Genoa Twp (47005)
Rooms
Basement MI Basement
Interior
Heating Forced Air
Exterior
Exterior Feature Vinyl Siding, Wood
Parking Features Carport
Building
Foundation Basement
Structure Type Vinyl Siding,Wood
Schools
School District Howell Public Schools
Others
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Virtual Tour https://www.propertypanorama.com/instaview/wmlar/26057768
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Listed by United Realty Services
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