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Multifamily

2040 Cashin St

2040 Cashin St, Burton, MI 48509

Listing Price: $480,000

Cap Rate
6.97%
Number of Units
8
GRM
7.48
Occupancy
95.0%
Price/Unit
$60,000
Price/Gross SF
$100.00
Gross SF
4,800

Investment Overview

Marcus & Millichap is pleased to present this unique eight unit investment opportunity located at 2040 Cashin St in Burton Michigan. This property is comprised of eight 1 bed 1 bath units at approximately 600 square feet. The property was built in 1972 and is a solid brick and concrete block constructed building. The units are heated by individual forced air furnaces and cooled with individual air conditioning units. Each unit also comes with large private garages 7 of the 8 being two car garages and 1 a one car garage. All utilities are paid for by tenants other than water and sewer. Units have been updated with digital thermostats and new GFI electricals. Two of the units have been updated with stainless steel appliances and new paint as the units become available. The property is currently 100% occupied, and there is upside on this deal through increasing rent as units are updated as well as implementing some additional income through charging for the private garages. Burton is the second largest city in Genesee County. This suburb is home to many parks and an above average public school system. Manufacturing and healthcare make up the largest percentage of employment in this city. Crime is very low in comparison to Burtons neighboring city of Flint. Rental demand is high in the area as the percentage of home ownership is much higher than those that rent. We invite you to look at this great investment opportunity today.

Investment Highlights

  • Private entries.
  • Tenants pay all utilities but water.
  • Fully occupied property.
  • Renovated units.
  • Two car private garages.

Exclusively Listed By

Listing Price: $480,000

Cap Rate
6.97%
Number of Units
8
GRM
7.48
Occupancy
95.0%
Price/Unit
$60,000
Price/Gross SF
$100.00
Gross SF
4,800

Investment Highlights

  • Private entries.
  • Tenants pay all utilities but water.
  • Fully occupied property.
  • Renovated units.
  • Two car private garages.

Investment Overview

Marcus & Millichap is pleased to present this unique eight unit investment opportunity located at 2040 Cashin St in Burton Michigan. This property is comprised of eight 1 bed 1 bath units at approximately 600 square feet. The property was built in 1972 and is a solid brick and concrete block constructed building. The units are heated by individual forced air furnaces and cooled with individual air conditioning units. Each unit also comes with large private garages 7 of the 8 being two car garages and 1 a one car garage. All utilities are paid for by tenants other than water and sewer. Units have been updated with digital thermostats and new GFI electricals. Two of the units have been updated with stainless steel appliances and new paint as the units become available. The property is currently 100% occupied, and there is upside on this deal through increasing rent as units are updated as well as implementing some additional income through charging for the private garages. Burton is the second largest city in Genesee County. This suburb is home to many parks and an above average public school system. Manufacturing and healthcare make up the largest percentage of employment in this city. Crime is very low in comparison to Burtons neighboring city of Flint. Rental demand is high in the area as the percentage of home ownership is much higher than those that rent. We invite you to look at this great investment opportunity today.

Exclusively Listed By

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