361 Richard Ter, Grand Rapids 49506

$310,000

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MLS#: 16041976
• For Sale

This property has been Sold!

10/03/2016 at $316,000

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248-304-6700

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Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

Great 2 unit listing in Eastown where your investment dollars are well spent! This property currently operates with a $40,020 gross income $30,168 net, rent is $1650 per unit and is selling at a 10% cap rate with a 8% management fee included. It gets even better with both units rented until summer 2017 with GR cert. of compliance until June 2022. Property has been through recent extensive update. See attached list. Units are 4 bedroom, 1.5 bath with close to 2000 square feet of living space including laundry facilities for each unit. Nice stone front porch and updated front and back landscaping give house great curb appeal. Tenants love the new cement patios out back. Renters are just steps away from restaurants, shops and the great living downtown GR has to off

Property Information    

Status
Sold 
Address
361 Richard Ter 
City
Grand Rapids 
Zip
49506 
Year Built
1900 
Possession
Subject To Tena 
County
Kent 

School Information

School District
Grand Rapids 

Taxes

Taxes
$3,465 

Rooms and Land

Number of Units

Features

Basement
Full Basement 
Cooling
None 
Heating
Forced Air, Natural Gas 

Listing Video for 361 Richard Ter, Grand Rapids MI 49506

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Listing Broker

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Listing Courtesy of Midwest Prop Of Michigan(main)
Office Address 2355 Belmont Cntr Dr, Ste 104
Listing Agent Kirsten Nairy