504-506*** 1st Street,Jackson, MI 49203
Jackson, MI 49203
Description
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
Details
| MLS # | 70540315 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1930 |
| Days On Site | 120 |
| Listing Provided By | ERA Reardon Realty, L.L.C. | Jennifer Chmielewski |
Features
| Basement | Y |
|---|---|
| Units | 8 |
| Acreage | 0.19 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Heating | Baseboard, Radiant |
Exterior
| Construction Materials | Other, Wood Siding |
|---|---|
| Foundation Details | Basement |
Other
| List Aor | Jackson Area Association of REALTORS |
|---|
Taxes
| Property | 1753 |
|---|
Area Information
| State | MI |
|---|---|
| County | Jackson |
| City | Jackson |
| Zip Code | 49203 |
| Area | Jackson (38020) |
| Listing VS Median (in 49203) | |
Price: $999,999 low | high Med: $199,900 On site: 120 low | high Med: 47 | |
Market Activity 49203
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Learn More About This Property
| State | MI |
|---|---|
| County | Jackson |
| City | Jackson |
| Zip Code | 49203 |
| Area | Jackson (38020) |
| Listing VS Median (in 49203) | |
Price: $999,999 low | high Med: $199,900 On site: 120 low | high Med: 47 | |
