504-506*** 1st Street, Jackson, MI 49203
- Bedrooms
- Bathrooms
- SQ. FT.
- Schools Jackson
- County Jackson
- Township Jackson City
- Above Grade Sq. Ft.
- Below Grade Sq. Ft.
- Bedrooms
- Bathrooms
- Basement Full
- Garage
- Acreage 0.19
- Heat Type Baseboard, Radiant
- Central Air
- Year Built 1930
- Style
- Exterior
- Taxes
- SEV 91100
- Zoning
- Parcel 3-000700000 & 3-000800000
- Lot Size 62 x 135
Features
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.
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