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$750,000
4 Baths
2,200 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 2,200 sqft
Subdivision Gravel Hill Sub
MLS Listing ID 20261057040
Style Common Entry Building
Full Baths 4
Year Built 1972
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type MultiFamily
Property Description
Turnkey 4-unit quadruplex in Plymouth's Historic Old Village, just blocks from downtown Plymouth and Kellogg Park. 100% leased with all four 1BR/1BA units occupied, generating $60,000 in in-place annual gross rent. Recent lease activity shows meaningful embedded rent growth: the longest-tenured resident just renewed at $1,225/mo (up 31% from her prior $935 rent), while a newly signed lease reflects a market-tested $1,325/mo, the highest in the building. Two of the four units remain priced below this level, giving a new owner a clear, low-capex path to mark rents to market as leases turn. Self-managed with a lean ~$13,300 annual operating expense load (taxes, insurance, utilities, repairs/maintenance, landscaping); no management fee has historically been charged. Tenants pay electric; owner covers water, sewer, trash, and natural gas heat. Slab foundation, vinyl exterior, asphalt roof. Ideal for a first-time investor, 1031 exchange buyer, or owner-operator seeking a turnkey income-producing asset in western Wayne County. Buyer/buyer's agent to verify all information.
Location
State MI
County Wayne
Area Area05013Plymouth
Interior
Heating Natural Gas, Wall Furnace
Fireplace No
Exterior
Pool None
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Plymouth Canton
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Call
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Listed by Brady Williams of Greater Development LLC
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