325 Paterson StFlint, MI 48503

For Sale
$26,900

High-Yield 2-Unit, Needs Rehab

Overview

Added:
Dec 11, 2024
Days on market:
94
This two-unit multifamily property in Flint, Michigan, presents a compelling investment opportunity. Located at 325 W Paterson St, 48503, this 1,501 square foot building sits on a 5,000 square foot lot. Built in 1927, the property is currently vacant, offering a blank canvas for renovation and immediate rental income generation. The asking price is $26,900, translating to $13,450 per unit and $17.92 per square foot. The property boasts a remarkable 71.38% capitalization rate and a projected Net Operating Income (NOI) of $19,200. While requiring some rehabilitation, including kitchen updates, minor bathroom repairs, drywall work, painting, and new carpeting, the property's proximity to local schools and a hospital enhances its rental potential. The property's two-story structure offers flexibility

Property Details for 325 Paterson St

Property type
Multifamily properties, Residential income homes
Square Feet
1,501 SF
Year Built
1927
Buildings
1
Stories
2
Units
2

Location Insight

City
Flint
County
Genesee
State
Michigan
Latitude
43.0330396
Longitude
-83.7089313
325 Paterson St, Flint, Michigan

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325 Paterson St
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