Remodeled 7-Unit Apartment
For Sale
$420,000
801 S Mill St, Clio, MI 48420
7-unit apartment complex remodeled between 2020 and 2024.
Property Size3,327 SF
Price / SF$126.24
Days on Market211
Property Features for 801 S Mill St
General Information
Standard status
Active
Size
3,327 SF
Property subtype
Multi-Family
Listing Agency:
HamadyRobinson, REALTORS
Listed By:
Andrea Robinson · License #6502419274
(810) 813-4017
Source:
Premiermichiganhomesearch
Added: Mar 10
Changed: Sep 26
Last Checked: Oct 5 at 9:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HamadyRobinson, REALTORS
Investment Insights
Based on property information with market context.
This is a 7-unit apartment complex. The property is conveniently located across from VGs and within walking distance to schools and shopping. The exterior was remodeled in 2017, including siding, roof and asphalt. All units were completely remodeled between 2020 and 2024. The unit mix includes 3 one-bedroom apartments, 1 two-bedroom apartment, 1 three-bedroom apartment, 1 efficiency apartment, and a separate small house with one bedroom. Each unit has a separate electric, water heater, and heat source.
Key Highlights
- All units completely remodeled between 2020 and 2024.
- Exterior remodeled in 2017, including siding, roof, and asphalt.
- Convenient location across from VGs and within walking distance to schools and shopping.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,496
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,920
$509.9K
Cap Rate 7%
$364,229
$364.2K
Cap Rate 9%
$283,289
$283.3K
Market Conditions
NOI Build-Up for 3,327 SF
Gross rent
$49.1K $14.76/SF
− Vacancy
−$2.7K −$0.83/SF
EGI
$46.4K $13.93/SF
− OpEx
−$20.9K −$6.27/SF
NOI
$25.5K $7.66/SF
Area
Genesee County, MI
Vacancy
5.60%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,920
Cap Rate 7%
$364,229
Cap Rate 9%
$283,289
Alternative Uses
Best Use
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,496 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$700.1K
$612.6K – $816.8K
NOI $49,006 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 48420, MI
21,771
Population
9,136
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
91%
High-School Grad
66.4 sq mi
ZIP Area
328
Density / Sq Mi
$63,427
Median Household Income
$40,420
Median Earnings
$797
Median Rent
$177,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 7-unit apartment complex remodeled between 2020 and 2024.
Where is this apartment building located?
The property is located at 801 S Mill St Clio, MI.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: All units completely remodeled between 2020 and 2024.; Exterior remodeled in 2017, including siding, roof, and asphalt.; Convenient location across from VGs and within walking distance to schools and shopping.
