Property Details

225 Arcade, Gladwin, MI - Gladwin

  • 50039412--1
  • 50039412--2
  • 50039412--3

Property ID : 50039412

  $124,000 - Multi-Family
1781  sqft 5 Bedrooms 3 Bathrooms Print

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.

Property Map

Additional Details

  • County Pick: Gladwin
  • Garage Size: Yes
  • Lot Dimensions: 58x132
  • Lot Sqft: 32700
  • School District: Gladwin Community Schools
  • State: MI
  • Status: Active
  • Subdivision: Cedar
  • Taxes: 1500
  • Township: Gladwin
  • Waterfront: No
  • Year Built: 1960
  • Zoning: MULTIFAMILY
  • Listing Agent Id: 595630
  • Listing Office Id: 83063
  • Modification Date: 2021-04-22T14:54:43.8
  • Listing Agent Name: Kari Garber
  • Listing Agent Phone: 989-539-2261
  • Listing Firm: HARRISON REALTY INC.
  • Directions: From corner of Arcade and M-61, South on Arcade
  • Bathrooms Full: 3

Listing Agent

Kari Garber - HARRISON REALTY INC.

Similar Properties