$129,500
101 Pleasant St SE, Grand Rapids, MI 49503
Current Rent **
N/A
Projected Rent **
$3,000
Estimated Rent †
Estimated Rent Confidence ‡
Low
Large House with High Returns Potential
This property is nearly 4000 square feet with 10 bedrooms, 3 full & 2 half baths just outside of Heritage Hill. It is currently operating as an adult care facility. There is big potential to convert it to a multi-family with large rent returns! Best conversion would be 3/1.5 lower, 3/1 middle and 1/1 top. It will be delivered vacant.
Highlights: 10 Bedrooms, 3 full and 2 half baths; New roof (4-years old); New furnace (3-years old); New hot water heater (4-years old); Off-street parking & garage; Nearly 4000 square feet; Deal includes an adjoining parcel as well; CAP Rate 12%+
More Photos/Video: drive.google.com/drive/folders/1sou0DZK961VYLvGwQC9d3U9nr0nUDEDH?usp=sharing
Comps: https://www.flexmls.com/share/3Q7WV/Selected
We hold the assignable contract. This will be sold on the warranty deed. $129,500 is the buy-it-now price, meaning we will not accept a higher bid once the buy-it-now price has been met by the first party to pay $2,500 EMD. Cash or hard money only, property sold in as-is condition. Buyer pays all closing costs and is responsible for their own due diligence and verifying all facts and figures. Price based on quick closing in 14 days or less. JTK Property Solutions members or employees make no guarantees concerning property condition, value, characteristics or financial benefits.
Location:
101 Pleasant St SE, Grand Rapids, MI 49503
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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