361 Richard Ter, Grand Rapids 49506
This property has been Sold!
10/03/2016 at $316,000
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
Rooms and Land
- Number of Units
- Full Basement
- Forced Air, Natural Gas
Listing Video for 361 Richard Ter, Grand Rapids MI 49506
Listing Courtesy of Midwest Prop Of Michigan(main)
Office Address 2355 Belmont Cntr Dr, Ste 104
Listing Agent Kirsten Nairy
Our Michigan real estate agents can answer all of your questions about 361 Richard Ter, Grand Rapids MI 49506. Real Estate One, Max Broock Realtors, and J&J Realtors are part of the Real Estate One Family of Companies and dominate the Grand Rapids, Michigan real estate market. To sell or buy a home in Grand Rapids, Michigan, contact our real estate agents as we know the Grand Rapids, Michigan real estate market better than anyone with over 100 years of experience in Grand Rapids, Michigan real estate for sale.