104 N Prairie Street Active Save Request In-Person Tour Request Virtual Tour
Lyons Vlg-lyons Twp,MI 48851
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 65024044899
Bedrooms 8
Year Built 1902
Annual Tax Amount $3,304
Lot Size 7,405 Sqft
Property Description
Excellent business opportunity with 9.4% cap rate, $93,036 net operating income. 4.13% assumable mortgage probably available to qualified buyer. $577,297 balance $3,744.98 P+I 25 year amortization, 3-4 years left on loan. Professionally appraised at $1,050,000. Renovated 2021 w/construction cost of 665k w/all new furnaces, hvac, water heaters, new kitchens w/shaker cabinets, new baths, new floor covering. Roof 2018 w/20 yrs warranty. Turn key very sharp units. All new appliances w/stainless steel stove, refrigerators, microwaves + in unit washer and dryers. Incredible all brick 1902 bank building .Lots of character w/safe, exposed brick, high ceilings, hardwood floors, arched windows. 7 one bedroom apts, 1 two bedroom apt, + commercial space leased to USPS. All tenants current. Renovation details and leases available upon request
Location
State MI
County Ionia
Area Lyons Vlg
Zoning Residential
Interior
Heating Forced Air
Cooling Central Air
Laundry 1
Exterior
Garage Spaces 8.0
Pool No
Waterfront no
Roof Type Rubber
Building
Sewer Public Sewer (Sewer-Sanitary),Sewer at Street,Storm Drain
Water Public (Municipal),Water at Street
Structure Type Brick
Schools
School District Ionia
Others
Acceptable Financing Assumable (Asm-Lend App),Cash,Conventional
Listing Terms Assumable (Asm-Lend App),Cash,Conventional