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Hope Mahnke

hopemahnke@xsellrealty.net +1(419) 822-7622

$889,900

Est. payment - /mo

1 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type 5+ Units

Listing Status Active

Purchase Type For Sale

Municipality Genoa Twp

MLS Listing ID 26057768

HOA Y/N true

Year Built 1950

Annual Tax Amount $7,061

Tax Year 2025

Lot Size 1.000 Acres

Acres 1.0

Lot Dimensions 104x40

Property Sub-Type 5+ Units

Source Michigan Regional Information Center (MichRIC)

Property Description

NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property — fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passive income investor seeking a low-maintenance, income-producing asset. Unit mix: 3 studio units + 7 one-bedroom/one-bath units — a diversified, in-demand mix that appeals to a broad tenant base and supports strong occupancy. 100% occupied with a stable, diversified rent roll: a mix of Section 8 / state-paid housing assistance tenants and conventional month-to-month tenants, providing reliable, partially government-backed cash flow with built-in rent stability. Efficiently managed, turnkey operation — a new roof and new tankless water heater mean major capex is already handled, minimizing deferred maintenance and near-term capital expenditures for the next owner. Coin-operated laundry adds approximately $30/month in supplemental ancillary income, with room to expand this revenue stream. Month-to-month leases offer the incoming owner flexibility to reposition rents or hold for steady in-place cash flow. Ideal for the buy-and-hold investor, apartment investor, or multifamily portfolio builder looking for immediate returns with minimal management burden. Financials, rent roll, and unit-by-unit breakdown available to qualified buyers upon request. Schedule your showing today! Efficiently managed, turnkey operation — a new roof and new tankless water heater mean major capex is already handled, minimizing deferred maintenance and near-term capital expenditures for the next owner. Coin-operated laundry adds approximately $30/month in supplemental ancillary income, with room to expand this revenue stream. Month-to-month leases offer the incoming owner flexibility to reposition rents or hold for steady in-place cash flow. Ideal for the buy-and-hold investor, apartment investor, or multifamily portfolio builder looking for immediate returns with minimal management burden. Financials, rent roll, and unit-by-unit breakdown available to qualified buyers upon request. Schedule your showing today!

Location

State MI

County Livingston

Body of Water Lake Chemung

Rooms

Basement Full, Michigan Basement

Interior

Heating Forced Air

Cooling Central Air

Laundry Common Area, In Basement, Laundry Room

Exterior

Parking Features Driveway, Gravel, Paved

Utilities Available Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected

Amenities Available Laundry

Waterfront Description Lake

View Y/N No

Roof Type Composition,Rubber

Street Surface Paved

Total Parking Spaces 15

Building

Lot Description Corner Lot

Structure Type Vinyl Siding,Wood Siding

New Construction No

Schools

School District Howell

Others

Tax ID 11-10-301-046

Acceptable Financing Cash, Conventional, Tax Def Exchange

Listing Terms Cash, Conventional, Tax Def Exchange

Virtual Tour https://www.propertypanorama.com/instaview/wmlar/26057768

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Listed by United Realty Services

NEARBY SCHOOL & BUSINESS

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Hope Mahnke

+1(419) 822-7622

Agent

5645 E Grand River Avenue Howell, MI 48843

Hope Mahnke

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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5645 E Grand River Avenue