Courtesy of The Charles Reinhart Company, Maura Rains

972 Michigan Avenue, Adrian, Michigan, 49221

$219,000
0.18 Acres
3 bd
#26047210
Well-kept and profitable 3-unit investment property conveniently located near Adrian College. This charming property includes two efficiency apartments and one one-bedroom apartment, all currently occupied by tenants with a solid payment history. Current monthly rents are $700, $725, and $775, producing $2,200 per month in gross rental income. Rents have remained unchanged for several years, creating an attractive opportunity for future upside. Unit 2 is leased through March 31, 2027, while the other two units are month-to-month. The fenced yard adds private appeal, and the garage, currently used by the owner, could potentially be rented for an additional $150 per month. Seller-owned appliances include three refrigerators, three ranges/ovens. Landlord currently pays utilities, lawn care, and trash; utilities are not separately metered. Property is served by one furnace, one hot water heater, and one electrical panel. Please allow 48-hour notice for tenant access.

PROPERTY FEATURES

  • Utilities : Natural Gas Available, Electricity Connected, Sewer Available, Water Available
  • Water Source : Public
  • Sewer : Public Sewer
  • Community Features : Sidewalks
  • Parking Features: Concrete, Driveway
  • Zoning Description : R1
  • Heating on Property:
  • Heating : Natural Gas, Forced Air
  • Construction Materials: Aluminum Siding
  • Roof: Composition
  • Basement Description : Crawl Space, Full
  • Basement on Property:
  • Laundry Features : Laundry Room, In Unit, Washer Hookup
PROPERTY DETAILS
ID: 26047210
Status: Active
Price: $219,000
Acres: 0.18 Acres
Price Per Acre: $1,216,667
Type: Multi-family
Address: 972 Michigan Avenue
City, State: Adrian, Michigan
County: Lenawee
Zip Code: 49221
Lat/Long: 41.896005, -84.053163
Presented By: Maura Rains
Phone:
Email: Click to Contact