47
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$500,000
Est. payment /mo
9,147 Sqft Lot
New
411 Maple Street Big Rapids, MI 49307-1854
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 70530042
Year Built 1900
Annual Tax Amount $5,688
Tax Year 2025
Lot Size 9,147 Sqft
Acres 0.21
Lot Dimensions 60x132.50
Property Sub-Type Multi-Family
Property Description
Fully occupied 6-unit multifamily investment opportunity in Big Rapids near Ferris State University. Unit mix includes five 2 bed/1 bath apartments and one 4 bed/1 bath unit totaling approximately 5,500 sq ft. Tenants pay gas and electric. Each unit has a separate water meter, creating immediate opportunity to bill back water and increase NOI. Coin-op laundry generates approximately $300/month in additional income. Three of six furnaces are newer (under 2 years old), reducing near-term capital expenses. Area 2-bedroom rents are trending closer to $1,050/month, leaving upside through unit turns and light cosmetic updates, particularly Unit 5. Onsite parking for approximately 8 vehicles. Strong rental demand driven by Ferris State and the surrounding employment base makes this a stable cash flow and value-add opportunity.
Location
State MI
County Mecosta
Area Big Rapids (54018)
Rooms
Basement MI Basement
Interior
Heating Forced Air
Cooling None
Exterior
Exterior Feature Vinyl Siding
Building
Foundation Basement
Structure Type Vinyl Siding
Schools
School District Big Rapids Public Schools
Others
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by EXP Realty LLC
Nearby Locations
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