$700,000
$845,000
17.2%For more information regarding the value of a property, please contact us for a free consultation.
1833 Prairie SW Parkway Wyoming, MI 49519
0.52 Acres Lot
Key Details
Sold Price $700,000
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
Municipality City of Wyoming
MLS Listing ID 24045084
Sold Date 05/12/25
Year Built 1969
Annual Tax Amount $10,136
Tax Year 2023
Lot Size 0.523 Acres
Acres 0.52
Lot Dimensions NA
Property Sub-Type 5+ Units
Property Description
7 unit apartment building in a great location. With several Capex projects just completed, there are minimal capital expenditures needed. There are 6-2BR units and 1-3BR unit. Coin-operated laundry. The electrical is individually metered and owner pays for heat (boiler), water/sewer and trash. Rents are well below market. Value add opportunity to increase rents to market as leases expire and implement a utility bill back/RUBS program to recapture some of the utility expense. This could be a great opportunity for your next cost segregation study, house hack, rental investment or 1031 exchange. With limited true value add rental product on the market, it makes this property an incredible value add opportunity. 1860 & 1870 Prairie Parkway SW are also for sale, see sister 4 unit listings
Location
State MI
County Kent
Area Grand Rapids - G
Direction 28th St To Burlingame, South To Prairie Parkway, West On Prairie Parkway On North Side.
Rooms
Basement Full
Interior
Heating Hot Water
Cooling Wall Unit(s), Window Unit(s)
Fireplaces Number 1
Exterior
Parking Features Paved
Utilities Available Cable Available, Natural Gas Connected, Electricity Connected
View Y/N No
Total Parking Spaces 10
Building
Structure Type Brick
New Construction No
Schools
School District Wyoming
Others
Tax ID 41-17-15-253-011
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Kent County Real Estate LLC