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1305 7TH Street

Port Huron, MI 48060
  • $399,900
  • STATUS: Active
  • ON SITE: 74 Days
  • ID#: 2220027305
Price Reduced
UPDATED: 70 min ago
$399,900
  • 0
    BEDS
  • 0.55
    ACRES
  • 13
    BATHS
  • 0
    1/2 BATHS
  • 11,845
    SQFT
  • $34
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1844
County:
Area:
Zoning:
Multi-Family
Lot Size Dimensions:
125 X 190 X 125 X 190

School Ratings & Info

School District:

Description

Historic 13 unit apartment building complex located on a corner lot close to Downtown Port Huron. Each unit has separated utilities including water and electric. No gas in building, all electric baseboard heat. Owner only pays common area electric. Perfect opportunity for an investor to purchase a value add building. Seller installed brand new roof in Nov 2020 at an approx cost of $80K. New boards and trim were installed. 6 units are currently occupied. 7 units are demoed and awaiting rehab. Long term tenants, zero evictions, always pay on time. Current tenant rent roll is undervalued. Once all 13 units are fully occupied and rented, this building should bring in $100K a year in rental income. Very low expenses. Future value based on 7% cap rate should be approx. $1.1 Million. Tall ceilings throughout.

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IDX provided courtesy of Realcomp II Ltd. via The Calhoun Team of Pretty Home Realty and Realcomp, © 2022 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Calhoun Team of Pretty Home Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the 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. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2022-07-02T14:59:26.14.
www.prettyhomerealty.com/homes/127802452
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1305 7TH Street Port Huron, MI 48060

  • Price: $399,900
  • Status: Active
  • On Site: 74 Days
  • Updated: 70 min ago
  • ID#: 2220027305
0
Beds
13
Baths
0
½ Baths
0.55
Acres
11,845
SQFT
$34
$/SQFT
1844
Built
Neighborhood:
White Plat
County:
St. Clair
Area:
Port Huron
School District:
PORT HURON
Property Description
Historic 13 unit apartment building complex located on a corner lot close to Downtown Port Huron. Each unit has separated utilities including water and electric. No gas in building, all electric baseboard heat. Owner only pays common area electric. Perfect opportunity for an investor to purchase a value add building. Seller installed brand new roof in Nov 2020 at an approx cost of $80K. New boards and trim were installed. 6 units are currently occupied. 7 units are demoed and awaiting rehab. Long term tenants, zero evictions, always pay on time. Current tenant rent roll is undervalued. Once all 13 units are fully occupied and rented, this building should bring in $100K a year in rental income. Very low expenses. Future value based on 7% cap rate should be approx. $1.1 Million. Tall ceilings throughout.
Exterior Features

Architecture Level 3 Story Architecture Style Historic Construction Materials Vinyl Foundation Details Basement Foundation Materials Poured Lot Size Dimensions 125 X 190 X 125 X 190 Pool YN No Road Frontage Feet 125 Road Frontage Type Paved Waterfront YN No

Interior Features

Basement Type Unfinished Basement YN Yes Baths Total 13.00 Fireplace YN No Heating Baseboard Heating Fuel Electric Living Area Source Public Records Sq Ft Combined 11845 Sq Ft Total Basement 1500 Unit Efficiency Number Of 9 Unit Four Bed Number Of 0 Unit One Bed Number Of 1 Unit Three Bed Number Of 0 Unit Two Bed Number Of 3

Property Features

Assessment 25 Deposit Amount 200000.00 Down Payment Resource YN No Encroachment YN No Exclusions YN No Existing Lease YN Yes Gross Scheduled Income 102000.00 Homestead YN No Income Projection Projected Land Contract YN Yes Land Interest Rate 8 Land Payment 3000 Land Terms 36 Listing Financing CashContractConventional Monthly Rental Income 8500 Number Of Units Leased 6 Ownership Status Short Sale - NoPrivate Owned Percent Homestead Exempt YN No Pets Allowed Cats OkDogs Ok Postal City Port Huron Protection Period 180 Settlement City Sewer Public Sewer (Sewer-Sanitary) Short Sale No Tax Amount Summer 6501.0000 Tax Amount Winter 296.0000 Title Standard (Private) Total Tax 6797.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 1305 7TH Street Water Source Public (Municipal) Zone Conform YN Yes Zoning Multi-Family

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via Justin Neil & Associates, Llc: (313) 332-0872 and Realcomp, ©2022 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via The Calhoun Team of Pretty Home Realty and Realcomp, © 2022 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Calhoun Team of Pretty Home Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the 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. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2022-07-02T14:59:26.14.
 
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