Sealed Bid Auction: 10 Pack Street

10 Pack Street, Croswell, MI 48422

Property Info

Zetabid is pleased to present this 24-unit multi-family low rise apartment building for sealed bid auction. The complex is 16,760 SF and sits on 1.2 acres with sixteen 2 bed / 1 bath units and eight 1 bed / 1 bath units (average unit size of 758 SF). Recent 20-year HUD agreement signed guaranteeing all rents along with tenant utility allowances. The roof was replaced in 2008, 75% of parking lot will be replaced by seller prior to closing and the complex is 96% occupied. Please visit our Due Diligence Vault for 3-year history & YTD P/L, current rent roll, HUD Agreement, surveys and the Zetabid website for details.

  • City : Croswell
  • State : MI
  • Zip Code : 48422
  • Property Type : Multi-family
  • Square Feet : 16760
  • Lot Size : 1.20 Acres
  • Year Built : 1980
  • Sub-Type : Low Rise
  • Stories : 2
  • Total Units : 24
  • 2+1 : 16 Units (66.7%) / 825 SF
  • 1+1 : 8 Units (33.3%) / 625 SF
  • Amenities : Heating/Kitchen/Refrigerator/Range
  • APN : 310-360-003-001-00
  • Cap Rate : 8.34% (2018 Projected @ Opening Bid)
  • NOI : $91,744
  • Gross Income : $173,809
  • Expenses : $82,065
  • Parking Spaces : 35
Status:Active
  • Buy Now Price :$1,352,000
Auction Start: 10/15/2018 9:00 am
Auction End: 10/23/2018 4:00 pm
  • Time Zone :EST
D
H
M
S

Important Information

  • Buyers Premium :4%
  • Broker Coop :2%
  • Financing :No
  • Inspection Contingency :Yes
  • Showings :Call Eric Koesterer @ 818.426.2660

Auction Contact

Broker Contact