2323 30th Street SW, Wyoming, MI 49519
- $2,000,000
- Sold Price
- $2,000,000
- List Price
- $2,310,000
- Closing Date
- Dec 04, 2024
- Days on Market
- 27
- MLS#
- 24042565
- Status
- SOLD
- Type
- Multifamily
- Neighborhood
- Grand Rapids - G
Property Description
22 unit apartment building in a great location. All units are 2Br-1BA. There is coin-operated laundry and individual storage units, in each building. The electrical has individual meters and owner pays for heat (boiler), water/sewer and trash. Rents are well below market. Value add opportunity to increase rents to market as leases expire and implement a utility bill back/RUBS program to recapture some of the utility expense. This could be a great opportunity for your next cost segregation study or 1031 exchange. With limited true value add rental product and the possibility to build more units, makes this property an incredible value add opportunity. Buyer to verify feasibility with City if adding additional units is possible.
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Additional Information
- Owner Pays
- Gas, Sewer, Trash Collection, Water
- Taxes
- $30,357
- Acres
- 1.49
- Basement
- Other
- Heating
- Hot Water
- Roofing
- Composition
- School District
- Wyoming
- Sewer
- Public Sewer
- Tenant Pays
- Electricity
- Total Parking Spaces
- 35
- Utilities
- Natural Gas Connected, Electricity Connected, Cable Available, Natural Gas Available, Phone Available
- Water
- Public
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Listing courtesy of Listing Agent: Shawn Jacobs from Listing Office: MOXIE Real Estate + Development.
Selling Agent: Selling Office: .
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