91
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$1,100,000
Est. payment /mo
8,276 Sqft Lot
New
504-506*** 1st Street Jackson, MI 49203-1774
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 70540315
Year Built 1930
Annual Tax Amount $1,753
Tax Year 2025
Lot Size 8,276 Sqft
Acres 0.19
Lot Dimensions 62 x 135
Property Sub-Type Multi-Family
Property Description
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
Location
State MI
County Jackson
Area Jackson (38020)
Interior
Heating Baseboard, Radiant
Exterior
Exterior Feature Other, Wood
Building
Foundation Basement
Structure Type Other,Wood
Schools
School District Jackson County Isd
Others
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by ERA Reardon Realty, L.L.C.
NEARBY SCHOOL & BUSINESS
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