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$ 219,000
Est. payment /mo
Active
972 Michigan AVE Adrian City, MI 49221
7,840 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
MLS Listing ID 81026047210
Year Built 1900
Lot Size 7,840 Sqft
Acres 0.18
Property Sub-Type MultiFamily
Property Description
Well-kept and profitable 3-unit investment property conveniently located near Adrian College. This charming property includes two efficiency apartments and one one-bedroom apartment, all currently occupied by tenants with a solid payment history. Current monthly rents are $700, $725, and $775, producing $2,200 per month in gross rental income. Rents have remained unchanged for several years, creating an attractive opportunity for future upside. Unit 2 is leased through March 31, 2027, while the other two units are month-to-month. The fenced yard adds private appeal, and the garage, currently used by the owner, could potentially be rented for an additional $150 per month. Seller-owned appliances include three refrigerators, three ranges/ovens. Landlord currently pays utilities, lawn care, and trash; utilities are not separately metered. Property is served by one furnace, one hot water heater, and one electrical panel. Please allow 48-hour notice for tenant access.
Location
State MI
County Lenawee
Area Area13092Adrian
Rooms
Basement Full
Interior
Heating Forced Air, Natural Gas
Fireplace No
Laundry InUnit, WasherHookup
Exterior
Parking Features Concrete
Community Features Sidewalks
Utilities Available ElectricityConnected, SewerConnected
View Y/N No
Roof Type Composition
Building
Foundation CrawlSpace
Sewer Public Sewer, Sewer At Street
Water Public
New Construction No
Schools
School District Adrian
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Maura Rains of The Charles Reinhart Company
American Dream Team Real Estate Broker
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