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4074 Wyatt Road - Exceptional location! Eight affordable housing rentals and an easy property to own! You could not build them for this price! Current rents are below current market, there is room to grow revenue. Room to build four more units for a total of 12. Even with current rents, cap rate is at 10%. Adding 4 more units would increase the cap rate including build out to 12%. Zero vacancy rate, as fast as they leave, a new tenant comes in. These units have been exceptionally well maintained. In 2013 and 2015 major updates were made. Owners personally attend gardens. Nicer than your typical multi-family property. Tenants can walk to the new Y from this location. Very close to West Jr/Sr High Schools. Could also convert the entire complex into condos, excellent return on investment.

Listing information

  • MLS® ID: 1818493
  • Year Built: 1977
  • Parking Type Description: Open 0 cars
  • Total Square Footage: 6,680 ($101.03 per sq. foot)
  • County: Grand Traverse
  • Property ID: 103955431
  • Status: Active
  • New Construction: No
  • Lot Area: 1.40
  • Style: Commercial
  • Stories: 0
  • Foreclosure: No
  • Lot Size: 200 x 317

Features

Business Incl No
CONSTRUCTION Frame
Deeded Waterfront No
DOCUMENTS ON FILE Deed Restrictions
ECO Features No
ENERGY EFFICIENT Not Applicable
Exterior Features Vinyl
Extras None
FOUNDATION Partial
HEATING/COOLING SOURCE Natural Gas
HEATING/COOLING TYPE Hot Water
Inventory Incl No
LICENSES None
LOCATION Other
Other Business Name - Wyatt Road Llc, Development Name - Hearthside Acres, Year Remodeled - 2014
Parking Common
Possession Negotiable
PRESENT USE Other
RENEWABLE Not Applicable
ROAD Public Maintained
Roof Asphalt
Terms 1031 Exchange
UNIVS DESIGN/BARRIER FREE None
Utilities / Sewer Shared Septic
Vacant Land No
Water Community Well
WATER CONSERVATION Not Applicable
ZONING Commercial, Multi-Family
Listed by Cindy Anderson of Coldwell Banker Schmidt REALTORS 231-929-2300