604 Windsor Terrace Se, Grand Rapids, MI 49503

$375,000
Sold Price
$375,000
List Price
$375,000
Closing Date
Aug 26, 2019
Days on Market
45
MLS#
19032280
Status
SOLD
Type
Multifamily

Property Description

Fantastic 3 unit located on Windsor Terrace, a private/public street. Located close to colleges, restaurants, and downtown Grand Rapids it is a wonderful location for tenants or home owner occupant. So great that the current leases have been long term - 3 yrs/5yrs respectively, main is owner occupied. Rents are low due to great tenants. Average potential rents for the area are $1300- 2 bed / $950 - 1 bed, and $850 - studio. A potential gross of $37200/yr on average. Meticulously maintained for easy maintenance with just a 10 year old roof, 12 yr old furnace. First floor Owners unit offers a 2 bed / 1 bath apartment w/ original fireplace, leaded glass window, pocket doors, and loads of character. The upper 1 bed / 1 bath unit has a great flow and space. The upper studio unit is huge & could potentially be expanded into the unfinished attic to raise the rents even higher! Front and back entrances available to all units. Shed and private backyard patio can be shared. Laundry and tons of storage space in the basement. Off street parking and street parking.

Additional Information

Owner Pays
Electricity, Gas, Sewer, Trash Collection, Water
Annual Maintenance
300
Annual Utilities
3900
Taxes
$2,911
SEV
114600
Homestead Percentage
50
Acres
0.107
Air Conditioning
Central
Basement
Yes
Driveway
Paved
Exterior Material
Wood Siding
Extras
Laundry Facility, Tenant Storage
Fireplaces
1
Heating
Forced Air
Heat Source
Natural Gas
Lot Dimensions
42 x 111
Road Frontage
42
Roofing
Composition
School District
Grand Rapids
Sewer
Public
Substructure
Full Basement
Tenant Pays
None
Total Parking Spaces
3
Water
Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Courtesy of Joshua C Heyboer with Keller Williams GR East.

Selling Agent: John P Boggiano Selling Office: Berkshire Hathaway HomeServices Michigan Real Estate (Main).

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