Courtesy of ERA REARDON REALTY, L.L.C., Jennifer Chmielewski
504-506*** 1st Street, Jackson, Michigan, 49203
0.19 Acres
12 bd
#26030627
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
PROPERTY FEATURES
- Utilities : Natural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected, Sewer Available, Water Available
- Water Source : Public
- Sewer : Public Sewer
- Parking Features: Asphalt, Driveway
- Parking Total: 12
- Heating on Property:
- Heating : Baseboard, Radiant
- Construction Materials: Wood Siding, Other
- Basement Description : Full
- Basement on Property:
- Laundry Features : Gas Dryer Hookup, In Basement, Washer Hookup
PROPERTY DETAILS
ID: 26030627
Status: Active
Price: $999,999
Acres: 0.19 Acres
Price Per Acre: $5,263,153
Type: Multi-family
Address: 504-506*** 1st Street
City, State: Jackson, Michigan
County: Jackson
Zip Code: 49203
Lat/Long: 42.243465, -84.415184
NEARBY PROPERTIES AROUND JACKSON COUNTY
These properties have been added to favorites!
These properties have been removed from favorites!