70190 N Main St - Prime Richmond Apartments 5 Unit Apartment Building Offered at $753,153 CAD at a 8.80% Cap Rate Richmond, MI 48062

Incredible investment opportunity with this fully occupied five-unit multi-family property located just minutes from Downtown Richmond. This property is ideal for both seasoned and new investors. It features two separate buildings. The main house is a triplex that includes a one-bedroom, one-bath unit of approximately 600 square feet, a two-bedroom, one-bath unit of approximately 850 square feet, and a two-bedroom, two-bath unit of approximately 1,100 square feet with a finished basement and carport. Each unit has been well maintained with updates such as newer furnaces, hot water tanks, AC wall units, flooring, and kitchen and bath remodels. The rear duplex was fully converted in 2021 from a storage structure into two modern apartments. The renovation included all-new utilities for gas, water, sewer, and electric, along with new interiors, fixtures, flooring, and a fire suppression system. One unit offers three bedrooms and one bath, and the other includes two bedrooms, one bath, and a small office. All units are separately metered for gas, electric, and water, which helps maintain low operating expenses. Tenants are currently on month-to-month leases, offering flexibility for the next owner. With its recent updates, efficient utilities, and strong rental performance, this property is a turnkey, income-producing investment in a prime Richmond location. Showings will be accommodated with an accepted offer.