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3807 Lippincott
Flint, MI 48507
MLS #5593286

Multi Family
  • 35units
$699,999
Est. P&I payment: $2673.52/mo
3807 Lippincott, Flint, MI 48507
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Description for 3807 Lippincott, Flint, MI 48507
THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 13.4 CAP RATE WITH POTENTIAL PROJECTED 19.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 35 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER. 33 UNITS HAVE SEPARATE BD/550 SQ FT AND 2 LARGE EFFICIENCIES.FURTHER, THERE ARE 2 UTILITY BLDGS AND SEPARATE METERS/2 STORAGE FACILITIES IN EACH OF THE BLDGS AND A SEPARATE SPACIOUS LEASING OFFICE WITH BATH.2 BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 50K PER UNIT!) BURTON CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS!FUSSY LANDLORD HAS A VERY LONG WAITING LIST! SELLER FORCED AND MUST TRANSFER TO CA, OTHERWISE WOULD NEVER CONSIDER THE SALE OF HIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!! PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE
MLS #5593286
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My Notes for MLS #5593286

General Features

  • Type: 1 to 4 Units
  • Est Year Built: 1972
  • Total Above Grade SqFt: 18,000
  • Estimated Acreage: 0.98
  • Total Number of Units: 35
  • Zoning: Multi-Family,​Other

Exterior Features

  • Lot Size: 429x101
  • Lot Front: 429
  • Exterior: Brick
  • Misc Exterior: Open Porch

Utility Features

  • Water Selection: No Water Selection
  • Water/Sewer Paid By: Owner
  • Trash Removal Paid By: Owner
  • Heat/Cool: Baseboard Heat,​Electric Water Heater
  • Fuel Type: Electric Heat
  • Water/Sewer: Community/Public Water,​Sewer/Street

Financial Features

  • Sale/Rent: For Sale
  • Summer Tax: 9,639
  • Winter Tax: 795
  • Total Tax: 10,434
  • Terms: Cash

Community Features

  • Area: 100-Other MLS Areas
  • City: Flint
  • Subdivision: EVERGREEN PARK NO 1

School Features

  • School District: Flint

Miscellaneous Features

  • Manufactured: No
  • Building Miscellaneous: Cable TV

Location

 
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Directions to 3807 Lippincott, Flint, MI 48507
WEST OF CENTER RD SOUTH SIDE OF LIPPINCOTT
The listing information for 3807 Lippincott, Flint, MI 48507 was graciously provided by our friends at the listing brokerage, First Michigan Realty Corp

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P&I Payment $2673.52
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Realty 1st's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Realty 1st, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 12/18/2017 at 9:11am
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