MLS Public Remarks Sugar Pine Apartments is a stabilized, value-add 19 unit apartment building located in Holt, MI. The property consists of eighteen 1 bedroom apartments (800 square feet) one 3 bedroom unit (1,000 square feet) and 9 storage units. The property is 100% occupied grossing $17,295 per month. All 19 units are in one building - that was built in 1999. Each unit is equipped with a window air conditioning unit, along with baseboard heat. There are 28 parking spaces for the 19 units. The units are separately metered for electric which the tenant puts in their name. The heat is supplied through baseboard heat. The landlord pays for water, sewer and trash. Most properties in the area bill back for these utilities, so there is opportunity to increase value through collecting RUBS. The current owner has invested over $100,000 into the building this year including patching, sealing and striping the parking lot, 3 unit renovations, and exterior / common area CAPEX.
Township Delhi Charter Twp
Directions Holt
Fin Below Grd SqFt 0
Fin Non Exposed SqFt 8,000
Total Fin SqFt 18,200
Price/SqFt $102
Unfinished SqFt 0
Above Grade Finished SqFt 18,200
CDOM 42
Sub Property Type Multifamily
Year Built 1999
Days on Market 42
Association Fee $
Land Assessment $0
Improvements $1,850,000
Net Taxes $21,912
Acreage 1.49
Taxes $0
Tax Year 0
Summer Taxes $4,043
School District Holt
Winter Taxes $17,869
Zoning Multi-Family
Lower Level Square Footage 0
Waterview N
Number of Units 19
Waterfront N
For Lease/Rent N
Est. Total Acres 1.49
Source for Est. Total Acres
Lot Dimensions 175.80 x 336.00
WaterFrontage
0
Heating Baseboard, Natural Gas
Water Public (Municipal)
Basement Y
Heating Baseboard, Natural Gas
Garage 0.0
Architecture 2 Story
Basement details Finished
Sewer Public Sewer (Sewer-Sanitary)
Home Style Contemporary
Possession At Close
Exterior Materials Brick