504-506 1st St, Jackson, MI 49203
- $1,100,000
- List Price
- $1,100,000
- MLS#
- 55026030627
- Status
- ACTIVE
Property 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.
Additional Information
- Year Built
- 1930
- Basement Type
- Full
- Acres
- 0.19
- Acres
- 0.19
- School District
- Jackson
- Heating
- Baseboard, Other, Radiant
- Garage Description
- Asphalt
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Courtesy of ERA Reardon Realty, L.L.C. 5177822996