Parma, MI 49269 103-121 John Street
$550,000
4 more
Presented By: Doug Beiswanger at BNR Real Estate Group - (517) 435-1500
Disclaimer: The information contained in this listing has not been verified by Worth Clark Realty and should be verified by the buyer.
Home Details
Located in popular Western School District, this 12 unit property is available for its new owner operator. Current CAP Rate approx. 11%. Growth potential to drive CAP Rate higher. Each building provides four units. Each unit provides living room, kitchen with appliances, two bedrooms, and one bathroom. Ample parking space for all tenants. 8 units updated in the last year. Large yard area for entertaining. Property offers easy access for eastbound and westbound commuters.
Presented By: Doug Beiswanger at BNR Real Estate Group - (517) 435-1500
Interior Features for 103-121 John Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
BasementSlab
Basement (Y/N)No
Electric On Property Y/NNo
Heating Y/NYes
Laundry FeaturesIn Unit
Total Fireplaces3
General for 103-121 John Street
AccessibilityNo Step Entrance
Additional Parcels Y/NNo
Attached Garage No
CityParma
Construction MaterialsVinyl Siding
CoolingWindow Unit(s)
CountyJackson
Days on Market12
DirectionsVillage of Parma, from Michigan Ave, turn S on John St (Corner of Michigan Ave and John St).
Gross Income103700.0
HeatingBaseboard, Forced Air
High School DistrictWestern
Insurance Expense2500.0
Land Lease Y/NNo
Lease Renewal Y/NNo
Legal Description002-07-31-160-001-00, 002-07-31-160-002-00, 002-07-31-160-015-00. Village of Parma, Sandstone Township, Jackson County.
Lot Size Square Feet56628.0
Lot Size UnitsAcres
MLS AreaJackson County - JX
MLS Area MinorJackson County - JX
MaintenanceExpense3200.0
MobileHomeRemainsYNNo
ModificationTimestamp2024-09-12T18:30:28Z
Net Operating Income60200.0
New ConstructionNo
NumberOfUnitsTotal12
Operating Expense43500.0
OwnerPaysTrash Collection, Water, Sewer
PossessionSubject To Tenant Rights
Property SubType5+ Units
Property TypeMulti-Family
Rent Control Y/NNo
RoofOther, Composition
Senior CommunityNone
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount14200.0
Tax Assessed Value237900
Tax Year2024
Tenant PaysElectric, Gas
TermsCash, Conventional, Contract, Tax Def Exchange
TownshipSandstone Twp
UtilitiesCable Available, Natural Gas Connected, Electricity Connected
Waterfront Y/NNo
Year Built1978
Zoning DescriptionCommercial
Exterior for 103-121 John Street
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions390x145
Lot FeaturesLevel
Lot Size Acres1.3
Lot Size Area1.3
Number of Buildings3
Open Parking Y/NNo
Parking FeaturesDriveway, Gravel
Road Surface TypePaved
SpaNo
Total Parking30.0
Additional Details
Price History
