Property ID : 50039412
$124,000 - Multi-Family
Three unit rental property in the city of Gladwin. Seller currently occupies one unit, and rents the other two for annual net income of approximately $7,000 (cap rate 5.7%). Fill the sellers unit and the annual net income potential increases to $13,000 (cap rate 10%). Recent updates include metal roof over apartment 3, new hot water boiler heat, upgrade to electric boxes and installation of individual electric meters to include one meter each unit and a forth meter for the house electric which runs the house boiler heat.