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361 Richard Ter SE UNIT 2,  Grand Rapids MI, 49506

Sold Price:
Status: Closed
MLS#: 16041976
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Last Updated: 10/25/2016 7:59 AM
Description for 361 Richard Ter SE UNIT 2 Grand Rapids, MI 49506
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
Sold Price:
Sold Date:10/03/2016
City Of Grand Rapids
Listing Information
Property Type: Multi-Family, Other
0.09 Acres 1900
City Of Grand Rapids
Public Water Service
Public Sewer
Separate Meters, Electric, Natural Gas
School Information
District: Grand Rapids
Room Information
Interior Features
Gas Heat, Forced Air
Basement, Full
Laundry Facilities
Exterior / Lot Features
45 x 90
Sidewalks, Paved Road, Acreage
Driving Directions
From Lake Dr. Wealthy intersectionW on WealthyN or Richard Terrace to property
Financial Considerations
Listing Price History

Grand Rapids Real Estate

Grand Rapids is located in Michigan. Grand Rapids, Michigan 49506 has a population of 189,340.

The median household income in Grand Rapids, Michigan 49506 is $39,070. The median household income for the surrounding county is $51,030 compared to the national median of $53,046. The median age of people living in Grand Rapids 49506 is 30.9 years.

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Courtesy: Midwest Prop of Michigan(Main) Kirsten Nairy
The properties on this web site come in part from the Broker Reciprocity Program of Member MLS's of the Michigan Regional Information Center LLC. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2016 Michigan Regional Information Center, LLC. All rights reserved.
Information is deemed reliable but is not guaranteed.

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