121-123 Island Avenue

Lansing, MI 48909 / None

MLS ID# 252999 Pending

$169,900


Map Layers

Description

Great opportunity to invest in upcoming REO Town. 4 Unit, brick maintenance free exterior. Two 3 bedroom units and two 1 bedroom units. Electric is sub-metered and paid by tenants. Gas has two meters and is currently paid by landlord, but could e... show more

Contract Info

  • Status Pending
  • Street # 121-123
  • Street Name Island
  • Suffix Avenue
  • City Lansing
  • State MI
  • Zip Code 48909
  • School District Lansing
  • Key CBX
  • TownshipTax Authority Lansing City
  • County Ingham
  • Subdivision None
  • Legal N 92 FT OF W 16 FT LOT 3 & N 92 FT OF E 34 FT LOT 4 BLOCK 2 MCKIBBINS ADD
  • Directions From downtown Lansing, take Washington south to Island, West on Island to home.

General Property Info

  • Building 1 Description Brick 4 unit
  • # of Units 4
  • Year Built 1915
  • Parking Total 6
  • Lot Dimensions 50x92
  • Lot Acres 0.11
  • ECO Friendly Features No

Tax Info

  • State Eq Value 39900
  • Taxes 3630.43
  • Tax Year 2020
  • Parcel # 33-01-01-21-329-002
  • Taxable Value 39900
  • Zoning Multi-Family

Compensation Info

  • Sub Agency Fee 0
  • Broker Agency Fee 3

Details

  • Annual Inc & Expense

    Gross Rent 36000 , Water/Sewer Expense 1400 , Tax Expense 3630 , Less Fuel 2419 , Net Income 28550
  • Unit 1

    Unit 121 Down , Baths 1 , Monthly Income 600 , Finished SqFt 600 , Tenant Name Gerardo , Expire Date 2021-10-01
  • Unit 1 Appliances

    Ovens 1 , Ranges 1 , Refrigerators 1
  • Unit 2

    Unit 121 Up , Baths 1 , Monthly Income 830 , Finished SqFt 900 , Tenant Name Valentin , Expire Date 2021-11-01
  • Unit 2 Appliances

    Ovens 1 , Ranges 1 , Refrigerators 1
  • Unit 3

    Unit 123 Down , Baths 1 , Monthly Income 650 , Finished SqFt 600 , Tenant Name Ivece , Expire Date 2022-01-01
  • Unit 3 Appliances

    Ovens 1 , Ranges 1 , Refrigerators 1
  • Unit 4

    Unit 123 Up , Baths 1 , Monthly Income 850 , Finished SqFt 900 , Tenant Name Vacant
  • Unit 4 Appliances

    Ovens 1 , Ranges 1 , Refrigerators 1
  • Unit Information

    License/Register Exp 2022-11-01 , # Deposits 1525 , # Written Leases 3
  • Misc Business Info

    # Parking 7

    Zoning

    Multi
  • Basement

    Daylight , Full , Shared
  • Exterior

    Earth Sheltered
  • Sewer

    Public Sewer
  • Roof

    Shingle
  • Heating

    Forced Air , Natural Gas
  • Land & Acreage

    Up to 1/4 Acre
  • Terms

    Cash , Conventional


This listing was last updated on 2021-02-24T15:23:10Z