🔴 Off-Market 4-Plex | Niles, MI | $120K | Cash Flow + Value-Add
115 S 3rd St, Niles, MI 49120
4 Units | All 1 Bed / 1 Bath
Across from the river in a solid rental pocket
Asking: $120,000 (BAC included)
ARV: ~$150K
Current Gross Rents: $1,850/month
Owner pays ~$200/month water/sewer + ~$375/year trash
Net after those utilities: approx. $1,618/month
The Play
Affordable 4-door entry with in-place tenants and separated electric. Entire property is electric with baseboard heat. Common laundry in rear of house. Includes garage, shed, fenced backyard area, and off-street parking (needs gravel).
Not a luxury asset — this is workforce housing that performs.
Value-Add / Improvements
This is stabilization and tightening operations, not a full gut:
• Replace leaking water heater
• Rear gutter repair + improve roof drainage
• Ceiling repair in lower-right unit (previous leak/exhaust issue)
• Improve one basement support area
• Address minor water intrusion in Michigan basement
• Add gravel to parking area
Foundation appears stable. Units are occupied and tenants appear stable.
Who This Is For
• Buy-and-hold investor who understands workforce housing
• Landlord looking to add 4 doors at an affordable basis
• Investor comfortable cleaning up small operational issues for long-term upside
• Someone who sees $120K for 4 units and understands the math
This is not a cosmetic flip. This is an affordable quad with cash flow and room to improve.
email Libby at [email protected] for more information.