$2,000,000
$2,310,000
13.4%For more information regarding the value of a property, please contact us for a free consultation.
2323 30th SW Street Wyoming, MI 49519
1.49 Acres Lot
Key Details
Sold Price $2,000,000
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
Municipality City of Wyoming
MLS Listing ID 24042565
Sold Date 12/04/24
Year Built 1973
Annual Tax Amount $30,357
Tax Year 2023
Lot Size 1.485 Acres
Acres 1.49
Lot Dimensions 0 X 0
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.
Location
State MI
County Kent
Area Grand Rapids - G
Direction S Off 28th St On Byron Center; E On 30th
Rooms
Basement Other
Interior
Heating Hot Water
Cooling Wall Unit(s)
Fireplaces Number 2
Laundry Common Area, Gas Dryer Hookup, Laundry Room
Exterior
Utilities Available Phone Available, Natural Gas Available, Cable Available, Natural Gas Connected, Electricity Connected, Water Available, Sewer Available
View Y/N No
Roof Type Composition
Total Parking Spaces 35
Building
Sewer Public Sewer
Structure Type Brick,Vinyl Siding
New Construction No
Schools
School District Wyoming
Others
Tax ID 41-17-15-103-024
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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