801 S Mill St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
801 S Mill St
7 Unit Apartment Building $440,000 ($62,857/Unit) 9.21% Cap Rate Clio, MI 48420
Investment Highlights
- All Units Completely Remodeled
- 100% Occupied
- Conveniently Located
Executive Summary
Charming 7 unit apartment complex conveniently located across from VGs and within walking distance to schools and shopping. Each unit has a separate electric, water heater and heat source. Exterior remodeled in 2017, including siding, roof and asphalt. All units completely remodel between 2020 and 2022.There are 3 one bedroom apartments, 1 two bedroom apartment, 1 three bedroom apartment, 1 efficiency apartment and a separate small house with one bedroom. Individual apartment showings contingent upon an approved purchase agreement and proof of funds.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$62,580
|
$18.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$62,580
|
$18.81
|
| Taxes |
$7,866
|
$2.36
|
| Operating Expenses |
$14,187
|
$4.26
|
| Total Expenses |
$22,053
|
$6.63
|
| Net Operating Income |
$40,527
|
$12.18
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $62,580 |
| Annual Per SF | $18.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $62,580 |
| Annual Per SF | $18.81 |
| Taxes | |
|---|---|
| Annual | $7,866 |
| Annual Per SF | $2.36 |
| Operating Expenses | |
|---|---|
| Annual | $14,187 |
| Annual Per SF | $4.26 |
| Total Expenses | |
|---|---|
| Annual | $22,053 |
| Annual Per SF | $6.63 |
| Net Operating Income | |
|---|---|
| Annual | $40,527 |
| Annual Per SF | $12.18 |
Property Facts
| Price | $440,000 | Property Subtype | Apartment |
| Price Per Unit | $62,857 | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.95 AC |
| Cap Rate | 9.21% | Building Size | 3,327 SF |
| Gross Rent Multiplier | 7 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2022 |
| Price | $440,000 |
| Price Per Unit | $62,857 |
| Sale Type | Investment |
| Cap Rate | 9.21% |
| Gross Rent Multiplier | 7 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.95 AC |
| Building Size | 3,327 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2022 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
1 of 1
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 51-23-100-003 | Total Assessment | $117,500 |
| Land Assessment | $0 | Annual Taxes | $7,866 ($2.36/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
51-23-100-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$117,500
Annual Taxes
$7,866 ($2.36/SF)
Tax Year
2024
zoning
| Zoning Code | Commercial (Commercial Zoned District) |
| Commercial (Commercial Zoned District) |
Learn More About Investing in Apartment Buildings
1 of 64
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
801 S Mill St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.