324 E Elizabeth Street
Alma, MI 48801
$175,000
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Rare opportunity with a NET income of almost $17,000 per year! This investment property has a fantastic rental history with at least two current long-term tenants. The main building consists of four 1 bedroom, 1-bathroom units (two upstairs and two downstairs). There is a main floor laundry room, but it is currently not being utilized. There is a 24x24 garage and the lot is slightly more than a half-acre which provides plenty of yard space and parking for tenants. The seller has maintained this property very well, with new shingles and plumbing upgrades about 7 years ago, 2 new wall furnaces about 3 years ago, new front porch 3 years ago and Retro-foam insulation was added throughout the crawl space. To be noted, tenants pay all utilities except the water bill.

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Property Details
Status: Active
Listing Date 07/02/2021
County: Gratiot
Taxes: $1,945
Acreage: 0.55
Lot Dimensions: 93.80 x 244.65
School District: Alma
Waterfront Desc: None
Number of Units: 4
Style: 2 Story
Year Built: 1903
Possession: Negotiable
Total Finished SqFt: 2,112
Exterior Features: None
Basement: Entrance Outside, Full, Unfinished
Appliances: All Units the Same, Oven/Range, Refrigerator
 
Cooling: Natural Gas, Wall, Window Air Conditioner
Heating: Natural Gas, Wall, Window Air Conditioner
Unit1 Bedrooms: 1 Bathrooms: 1 Finished SqFt: 400
 
Listing Office: Century 21 Lee-Mac Realty
Office Address: 605 W WARWICK DRIVE
Listing Number: 1889784
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