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TEDROS FREMICHAEL HOMES GR

POWERED BY GRAND RIVER REALTY

330 Fuller Ave NE, Grand Rapids, MI 49503 | (616) 821-8491

Bedrooms:

Bathrooms:

0

Square Feet:

Type:

5+ Units

County:

Kent

School District:

Wyoming

Year Built:

1973

Listing Type:

Multi Family

City:

Multi Family

2323 30th Street SW, Wyoming, MI 49519

$2,310,000

Description

22 unit apartment building in a great location. All units are 2Br-1BA. There is coin-operated laundry and individual storage units, in each building. The electrical has individual meters and owner pays for heat (boiler), water/sewer and trash. Rents are well below market. Value add opportunity to increase rents to market as leases expire and implement a utility bill back/RUBS program to recapture some of the utility expense. This could be a great opportunity for your next cost segregation study or 1031 exchange. With limited true value add rental product and the possibility to build more units, makes this property an incredible value add opportunity. Buyer to verify feasibility with City if adding additional units is possible.

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