70 Lester AveWhite Cloud, MI 49349

Property Details for 70 Lester Ave

Lot size

3.12 AC

Property size (Sq ft)

21,549 SF

Property type

Apartment buildings

Description

This exceptional 32-unit apartment building in White Cloud, Michigan, presents a compelling investment opportunity. Situated on a spacious 3.117-acre lot at 70 N Lester Ave, 49349, this property comprises two one-story buildings totaling 21,549 square feet. The property features a desirable mix of apartment units, each equipped with individually metered gas and electric services. Convenient amenities include coin-operated laundry facilities and storage units within each building. Significant capital improvements have already been implemented, encompassing common area upgrades, roof and gutter replacements, exterior door enhancements, appliance updates, unit renovations, and parking lot repairs. Current rents are below market value, offering a substantial value-add opportunity for increased profitability as leases expire. This property is ideally suited for a 1031 exchange or cost segregation study. The property's location in a growing submarket further enhances its long-term investment potential. This is a rare chance to acquire a well-maintained, income-producing multifamily asset with significant upside. The property's strong fundamentals and potential for rent increases make it an attractive investment for discerning buyers. Don't miss this chance to acquire a high-yield property in a desirable location.

Location Insight

City

White Cloud

County

Newaygo

State

Michigan

Latitude

43.5551

Longitude

-85.7808

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