Expenses 
$2,070,000
Wyoming, MI 49519
MLS# 18000698
Status: Sold
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Property Description
Executive Estates Apartments is an apartment community built in 1971, 40 units - 4 Garden-Style buildings. 2 Buildings have 12 units each on one parcel, the other 2 buildings have 8 units each on their own parcel. This property has had extensive updates done to most of the units bringing the rent up from an average of $550/month to an average of $685/month. The last unit rented for $800/month. This is a turn-key investment. The current management company has a manager and a maintenance person on-site. Arrangements can be made to keep the management company in place and operate the property. Looking for a larger property to add to your portfolio? No problem. The sellers will work with investors looking to do a 1031 exchange.
Details
Maps
Documents
Location Property Info
County: Kent
Street #: 2320
Street Name: 30th
Suffix: Street
Post Direction: SW
State: MI
Zip Code: 49519
Area: Grand Rapids - G
OfficeContract Info
Status: Sold
Current Price: $2,070,000
List Price: $2,200,000
Listing Date: 2018-01-08
General Property Info
Lot Measurement: Acres
Lot Dimensions: NA
Year Built: 1971
New Construction: No
Cert of Compliance: No
Total # Units: 40
# of Diff Unit Floor Plans: 1
Total # Bldgs: 4
Total Parking Spaces: 80
Waterfront: No
School District: Wyoming
Tax Info
Tax ID #: 41-17-15-103-023 /026 /027
Taxable Value: 694493
SEV: 808300
For Tax Year: 2017
Seller's Annual Property Tax: 40700
Tax Year: 2017
Spec Assessment & Ty: N/A
Zoning: NA
Remarks Misc
Directions: S of 28th st, E of Byron Center
Status Change Info
Under Contract Date: 2018-01-23
Sold Date: 2018-09-18
Sold Price: $2,070,000
Access Feat
Accessibility Features: No
Unit 1
Unit #: 40
Unit Description: 2 bedroom
Identical Units: 40
SqFt: 792
Occupied: Yes
Monthly Rent: 705
Bedrooms: 2
Bathrooms: 1
Property Features
Exterior Material: Brick
Roofing: Composition
Substructure: Daylight
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Electricity Connected; Natural Gas Connected
Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water; Storm Sewer
Extras: Laundry Facility; Sep Electric Meter
Owner Pays: Gas; Sewer; Trash Collection; Water
Tenant Pays: Electric
Heat Source: Natural Gas
Heat Type: Baseboard; Radiant
Driveway: Paved
Street Type: Paved
Terms Available: Assumable; Cash; Conventional
Possession: Subject To Tenant Rights
Sale Conditions: None
Unit 1: Range Oven; Refrigerator
Listing Office: Compass Realty Services
Listing Agent: Mark Troy
Last Updated: October - 07 - 2021
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of MICHRIC , and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
