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223 W Washington Ave 21 Unit Apartment Building $649,103 CAD ($30,910 CAD/Unit) 7.14% Cap Rate Jackson, MI 49201
INVESTMENT HIGHLIGHTS
- Downtown Jackson Fully Occupied!
EXECUTIVE SUMMARY
Prime opportunity to own a fully occupied 6-unit brick multifamily building in the heart of Downtown Jackson at 223 W Washington Ave. This low-maintenance, city-certified rental property (2024) features 4,872 sq ft of updated living space with consistent rental demand and zero vacancy. $60,000+/year gross income! Tenants enjoy coin-operated laundry, basement storage, and easy access to restaurants, shops, and public transit, including the Amtrak station. Zoned C-3 and located in a high-demand rental area, the property generates strong cash flow with high cap rate. With a solid rental history, stable income, and prime location, this turnkey asset is ideal for any investor seeking a high-performing, hassle-free addition to their portfolio. Listing agent is part owner of this property.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $649,103 CAD | Building Class | B |
| Price Per Unit | $30,910 CAD | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 4,872 SF |
| Cap Rate | 7.14% | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | C-3 - Commercial | ||
| Price | $649,103 CAD |
| Price Per Unit | $30,910 CAD |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 4,872 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2020 |
| Parking Ratio | 1.23/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C-3 - Commercial |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Deck
- Handrails
- Patio
- Porch
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | $1,274 CAD | 800 - 900 |
1 1
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 4-019300000 | Total Assessment | $187,533 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4-019300000
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$187,533 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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223 W Washington Ave
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