$553,000
$550,000
0.5%For more information regarding the value of a property, please contact us for a free consultation.
103-121 John Street Parma, MI 49269
1.3 Acres Lot
Key Details
Sold Price $553,000
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
Municipality Sandstone Twp
MLS Listing ID 24048171
Sold Date 03/07/25
Year Built 1978
Annual Tax Amount $14,200
Tax Year 2024
Lot Size 1.300 Acres
Acres 1.3
Lot Dimensions 390x145
Property Sub-Type 5+ Units
Property Description
Located in popular Western School District, this 12 unit property is available for its new owner operator. Current CAP Rate approx. 11%. Growth potential to drive CAP Rate higher. Each building provides four units. Each unit provides living room, kitchen with appliances, two bedrooms, and one bathroom. Ample parking space for all tenants. 8 units updated in the last year. Large yard area for entertaining. Property offers easy access for eastbound and westbound commuters.
Location
State MI
County Jackson
Area Jackson County - Jx
Direction Village of Parma, from Michigan Ave, turn S on John St (Corner of Michigan Ave and John St).
Rooms
Basement Slab
Interior
Heating Baseboard, Forced Air
Cooling Window Unit(s)
Fireplaces Number 3
Laundry In Unit
Exterior
Parking Features Driveway, Gravel
Utilities Available Cable Available, Natural Gas Connected, Electricity Connected
View Y/N No
Roof Type Other,Composition
Street Surface Paved
Handicap Access No Step Entrance
Total Parking Spaces 30
Building
Lot Description Level
Structure Type Vinyl Siding
New Construction No
Schools
School District Western
Others
Tax ID 002-07-31-160-001-00
Acceptable Financing Cash, Conventional, Contract, Tax Def Exchange
Listing Terms Cash, Conventional, Contract, Tax Def Exchange
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Bought with Coldwell Banker Beiswanger Realty Group