551 Cooper Street
Property Description
Excellent investment opportunity with a fully occupied 6-unit multi-family property featuring two buildings on a corner lot. The property consists of a 4-unit building and a separate 2-unit building, offering a total of six units. Numerous major updates were completed in 2022-2023, including a new roof, six kitchens, six bathrooms, most of the flooring throughout in 2023, plus two furnaces and a water heater in 2022. All new windows and most of the plumbing in the 4 unit building over the past few years. The rear 2-unit building has separate gas and electric meters, with tenants responsible for their own electric; but gas could be fully separated with the addition of a 2nd water heater (already has 2 separate furnaces). City certified and fully occupied, with approximately $42,000 in annual NOI and a reported 14% cap rate. A strong opportunity for investors seeking an updated, income-producing multifamily property.
Broker Details
BNR Real Estate Group 1 517-435-1500
MLS ID: jx313628w State License Number: 6501313628
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $299,900 |
| No. of Units: | 6 |
| Year Built: | 1900 |
| Opportunity Zone: | No |
| Price per unit: | $49,983 |
| Property Website | Click Here |
| Number of Bedrooms: | 5 |
| Number of Bathrooms: | 0 |
ID: 3yd-GRARMI-26050747
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