Listing Details

NEW PRICE: $899,900 - a $100,000 price improvement. This turn-key 4-unit townhouse complex in East Jordan, built in 2023, delivers strong in-place cash flow at an approximate 6.5% cap rate, low near-term CapEx, verified operating history, and long-term development upside. Fully leased at $8,800/month ($105,600/year) in gross rent. Tenants in Units 2, 3, and 4 pay most primary utilities, helping keep owner expenses low. Each unit features high-end finishes, natural gas forced-air heat, central air conditioning, dedicated carports, private rear decks, full 2023 appliance packages, and independent utility metering. Layouts include three 3-bedroom/2.5-bath townhomes with private ensuite bedrooms and one 2-bedroom/2.5-bath dual-ensuite unit. Newer roofing, mechanicals, systems, and exterior components reduce the likelihood of significant near-term capital expenditures compared with older multifamily inventory. Units 3 and 4 feature reliable long-term tenants, and Units 2 and 4 convey fully furnished. Additional upside: a 2-hour fire-rated separation wall between units was designed to facilitate future condominium conversion, creating an attractive exit strategy through individual townhome sales. Site plan, rent roll, and operating statement available upon request. Low-maintenance exterior with municipal water and sewer. Seller is a licensed Realtor in the State of Michigan.