$500,000
MLS# 26020346
1 / 47
Property Description
Fully occupied 6-unit multifamily investment opportunity in Big Rapids near Ferris State University. Unit mix includes five 2 bed/1 bath apartments and one 4 bed/1 bath unit totaling approximately 5,500 sq ft. Tenants pay gas and electric. Each unit has a separate water meter, creating immediate opportunity to bill back water and increase NOI. Coin-op laundry generates approximately $300/month in additional income. Three of six furnaces are newer (under 2 years old), reducing near-term capital expenses. Area 2-bedroom rents are trending closer to $1,050/month, leaving upside through unit turns and light cosmetic updates, particularly Unit 5. Onsite parking for approximately 8 vehicles. Strong rental demand driven by Ferris State and the surrounding employment base makes this a stable cash flow and value-add opportunity.
Details
Location & Property Info
Cross Streets: Ives & Stewart
Property Sub-Type: 5+ Units
Municipality: Big Rapids
Office/Contract Info
Auction or For Sale: For Sale
General Property Info
New Construction: No
Lot Dimensions: 60x132.50
Road Frontage: 60
Cert of Compliance: Yes
Waterfront: No
Basement: Yes
Total # Units: 6
# of Diff Unit Floor Plans: 2
Total # Bldgs: 1
Total Parking Spaces: 8
School District: Big Rapids
Lot Measurement: Acres
Lot Square Footage: 9148
Lot Acres: 0.21
Year Built: 1900
Tax Info
Taxable Value: 101976
SEV: 112200
For Tax Year: 2025
Seller's Annual Property Tax: 5688.6
Tax Year: 2025
Homestead %: 0
Spec Assessment & Ty: NA
Zoning: R-P
Remarks & Misc
Public Remarks: Fully occupied 6-unit multifamily investment opportunity in Big Rapids near Ferris State University. Unit mix includes five 2 bed/1 bath apartments and one 4 bed/1 bath unit totaling approximately 5,500 sq ft. Tenants pay gas and electric. Each unit has a separate water meter, creating immediate opportunity to bill back water and increase NOI. Coin-op laundry generates approximately $300/month in additional income. Three of six furnaces are newer (under 2 years old), reducing near-term capital expenses. Area 2-bedroom rents are trending closer to $1,050/month, leaving upside through unit turns and light cosmetic updates, particularly Unit 5. Onsite parking for approximately 8 vehicles. Strong rental demand driven by Ferris State and the surrounding employment base makes this a stable cash flow and value-add opportunity.
Legal: 000411 MAPLE STREET: SEC 11, T15N, R10W -- A PARCEL OF LAND DESC AS BEG AT A PT 90 FT E OF THE INT OF THE N LI OF MAPLE ST & THE E LI OF N STEWART AVE, TH E ALG THE N LI OF MAPLE ST 60 FT, TH N 165 FT, TH W 50 FT, TH S 65 FT, TH W 10 FT TH S TO THE P OB.
Lot Description
Level: 1
Street Type
Paved: 1
Util Avail at Street
Cable Available: 1
Electricity Available: 1
Natural Gas Available: 1
Phone Available: 1
Public Sewer: 1
Public Water: 1
Utilities Attached
Cable Connected: 1
Electricity Connected: 1
Natural Gas Connected: 1
Phone Connected: 1
Sewer
Public Sewer: 1
Water
Public Water: 1
Terms Available
Cash: 1
Conventional: 1
Tax Def Exchange: 1
Laundry Features
In Basement: 1
Upper Level: 1
Exterior Material
Vinyl Siding: 1
Roofing
Composition: 1
Heat Source
Natural Gas: 1
Sale Conditions
None: 1
Heat Type
Forced Air: 1
Air Conditioning
None: 1
Access Feat
Accessibility Features: No
Tenant Pays
Electric: 1
Gas: 1
Sewer: 1
Trash: 1
Water: 1
Driveway
Paved: 1
Substructure
Michigan Basement: 1
Extras
Sep Electric Meter: 1
Sep Gas Meter: 1
Sep Water Meter: 1
Owner Pays
Trash Collection: 1
Water: 1
Unit 1
Unit Description: 1
SqFt: 900
Occupied: Yes
Monthly Rent: 950
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 2
Unit Description: 2
SqFt: 850
Occupied: Yes
Monthly Rent: 900
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 3
Unit Description: 3
SqFt: 900
Occupied: Yes
Monthly Rent: 975
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 4
Unit Description: 4
SqFt: 1100
Occupied: Yes
Monthly Rent: 1250
Bedrooms: 4
Bathrooms: 1
Full Baths: 1
Unit 5
Unit Description: 5
SqFt: 900
Occupied: Yes
Monthly Rent: 650
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Unit 6
Unit Description: 6
SqFt: 850
Occupied: Yes
Monthly Rent: 875
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Location Property Info
County: Mecosta
State: MI
Zip Code: 49307
OfficeContract Info
Status: Active
Current Price: $500,000
List Price: $500,000
Listing Date: 2026-05-06
Property Features
Laundry Features: In Basement; Upper Level
Exterior Material: Vinyl Siding
Roofing: Composition
Substructure: Michigan Basement
Lot Description: Level
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected
Util Avail at Street: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water
Extras: Sep Electric Meter; Sep Gas Meter; Sep Water Meter
Owner Pays: Trash Collection; Water
Tenant Pays: Electric; Gas; Sewer; Trash; Water
Heat Source: Natural Gas
Heat Type: Forced Air
Air Conditioning: None
Driveway: Paved
Street Type: Paved
Terms Available: Cash; Conventional; Tax Def Exchange
Possession: Close Of Escrow; Subject To Tenant Rights
Sale Conditions: None
Listing Office: EXP Realty LLC
Listing Agent: Alexia Hoffman
Last Updated: May - 06 - 2026
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