About This Home
This 3-bedroom, 0-bathroom residential multi family at 972 Michigan Avenue in Adrian, MI is listed for $219,000. Built in 1900, on a 0.18 acres lot.
Key Features
- Built in 1900
- 0.18 acre lot
Property Details
Well-kept and profitable 3-unit investment property conveniently located near Adrian College. This charming property includes two efficiency apartments and one one-bedroom apartment, all currently occupied by tenants with a solid payment history. Current monthly rents are $700, $725, and $775, producing $2,200 per month in gross rental income.
Rents have remained unchanged for several years, creating an attractive opportunity for future upside. Unit 2 is leased through March 31, 2027, while the other two units are month-to-month. The fenced yard adds private appeal, and the garage, currently used by the owner, could potentially be rented for an additional $150 per month.
Seller-owned appliances include three refrigerators, three ranges/ovens. Landlord currently pays utilities, lawn care, and trash; utilities are not separately metered. Property is served by one furnace, one hot water heater, and one electrical panel. Please allow 48-hour notice for tenant access.
Monthly Cost Estimate
$1,171/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
972 Michigan Avenue
Adrian, MI 49221
Property Details
Construction
Parking
Heating
Questions & Answers
This 3-bedroom, 0-bathroom residential multi family at 972 Michigan Avenue is listed at $219,000. The estimated monthly payment is $1,171 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1900, 0.18 acre lot.
This property is listed by Maura Rains and can be reached at 3137177788.
