225 Shepard Street

Lansing, MI 48912 / None

MLS ID# 247606 Closed

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Closed $98,000

3 units

4 parking spaces

sqft

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• Description
• Location & Legal Info
• General Property Info
• Tax Info
• Compensation Info
• Details

Description

HUGE Opportunity to acquire a cash flowing 3 unit investment in the derirable East Side Neighborhood. Two 1 bedroom apartments are upstairs with a large 2 bedroom on the main floor. Separate gas meters and electric meters for each unit! Two tiled showers, hardwood in main floor unit, 2 car garage. Lots of potential to raise rents or leave as is and still get cash flow day one. HUGE Opportunity to acquire a cash flowing 3 unit investment in the derirable East Side Neighborhood. Two 1 bedroom apartments are upstairs with a large 2 bedroom on the main floor. Separate gas meters and electric meters for each unit! Two tiled sh... show more

Location & Legal Info

• Street # 225
• Street Name Shepard
• Suffix Street
• City Lansing
• State MI
• Zip Code 48912
• Zip +4 2797
• School District Lansing
• Key CBX
• TownshipTax Authority Lansing City
• County Ingham
• Subdivision None
• Legal LOT 36 BLOCK 3 ASSESSORS PLAT NO 16
• Directions OFF MICHIGAN, BETWEEN PENN AND CLEMENS, SOUTH ON SHEPARD TO HOME ON EAST OF ROAD

General Property Info

• Building 1 Description 3 UNIT
• # of Units 3
• Year Built 1919
• Above Grade Finished Area 1920
• Parking Total 4
• Lot Size Dimensions 38.5x127.88
• Lot Acres 0.11

Tax Info

• State Eq Value 38600
• Eq Year 2020
• Taxes 2588.06
• Tax Year 2020
• Parcel # 33-01-01-15-432-091
• Taxable Value 29540
• Taxable Value Year 2020
• Zoning Residential

Compensation Info

• Buyer Agency Compensation 3.00%
• Sub Agency Compensation 3.00%

Details

• Annual Inc & Expense

  Gross Rent:1535, Tax Expense:2588.06

• Unit 1

  Unit:1st Floor, Baths:1, Monthly Income:575, Finished SqFt:800

• Unit 2

  Unit:2nd Floor, Baths:1, Monthly Income:485, Finished SqFt:600, Tenant Name:Vacant

• Unit 3

  Unit:2nd Floor Rear, Baths:1, Monthly Income:475, Finished SqFt:300

• Misc Business Info

  # Parking:4

• Basement

  Daylight, Full

• Exterior

  Aluminum Siding

• Parking Features

  Detached

• Water Source

  Public

• Sewer

  Public Sewer

• Roof

  Shingle

• Patio & Porch Features

  Covered

• Heating

  Forced Air, Natural Gas

• Water Heater

  Gas Water Heater

• Land & Acreage

  Up to 1/4 Acre

• Levels

  Two

• Terms

  Cash, Conventional

• Showing Requirements

  24 Hour Notice, Call Tenant, Combination Lockbox, Showing Time, Sign on Property, Vacant