Description
Unique and rare opportunity! 4 Individual rentals on 1 property. Each rental has its own storage shed. There are two 2 bedrooms,one 3 bedroom, one 1 bedroom rentals. Long term tenants, rents are low due to owner feeling they've been good long term tenants. Property was previously a trailer park with 50 sites, but now overgrown, future trailer parks or RV/campgrounds are not allowed. Located not far from Saginaw Bay. Wooded to rear of property. Tenants pay own gas & electric, owner pays water-which was $132 last quarter-not been higher than $200 per quarter, has septic. Square feet is a combination of units and only approximate. Lot size is irregular, survey on file. 3 BR Unit rents $450/month, $350 security deposit, been there approx 3 years. 2 BR small home $400/mo, $375 security deposit, been there since 2003. 2 BR trailer $400/mo, $300 security deposit, been there since 2003. 1 BR rents for $375/month. Rents are low and should be adjusted to market rates, but Seller has appreciated long term tenants. Seller pay $26.01/quarterly fee for sewer line on Huron Road, but has chosen not to connect. Would be required to connect if septic system were to fail in future, the assessment was paid in full in 2019. Per zoning official of Fraser Township, no new structures or trailers can be brought in and will need to be deed restriction, current rentals/trailer can be maintained, just no new ones allowed.
Location
Similar Listings
Multi-Family
$115,000
MLS# 50081677
Listing Agent: TERRY HUFFMAN
Courtesy of: RE/MAX 1ST REALTY
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Listing Agent: Charlene M. Rupp Courtesy of: Bay Area Real Estate Source MLS MiRealSource. Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
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permission from MiRealSource, Inc. Updated: 16th August, 2022 12:48 PM (UTC)
