SOLD
$316,000
Date 10/03/2016

361 Richard Ter SE UNIT 2
Grand Rapids, MI 49506

Multi-Family
Residence
0.09
Acre Lot
1of
Photos
Map
Courtesy: Kirsten Nairy - Midwest Prop of Michigan(Main)
Last Updated: 5/23/2018 5:31 PM
Great 2 unit listing in Eastown where your investment dollars are well spent! This property currently operates with a $40,020 gross income $30,168 net, rent is $1650 per unit and is selling at a 10% cap rate with a 8% management fee included. It gets even better with both units rented until summer 2017 with GR cert. of compliance until June 2022. Property has been through recent extensive update. See attached list. Units are 4 bedroom, 1.5 bath with close to 2000 square feet of living space including laundry facilities for each unit. Nice stone front porch and updated front and back landscaping give house great curb appeal. Tenants love the new cement patios out back. Renters are just steps away from restaurants, shops and the great living downtown GR has to off
16041976
Multi-Family, Other
Kent
1900
0.09 Acres
Public Water Service
Public Sewer
School Rating Out of 10
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.

Walk Score

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Courtesy: Kirsten Nairy - Midwest Prop of Michigan(Main)
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