1135 Maumee St, Adrian, MI 49221-1944
This exceptional 5-unit apartment complex presents a compelling investment opportunity in Adrian, MI. Situated on a 0.96-acre lot at 1135 W Maumee Street, this property offers a blend of convenience and strong rental potential. Each of the five units is a spacious, single-floor apartment featuring two bedrooms and a private garage, providing residents with ample living space and secure parking. The complex is in excellent, move-in ready condition, minimizing immediate maintenance needs for the new owner. Individual utility metering for each unit ensures efficient energy consumption and simplifies billing. The apartments are designed for privacy and quiet living, a desirable feature for tenants. The location within a desirable Adrian neighborhood contributes to high occupancy rates and strong rental demand. This turnkey property is ideal for investors seeking a low-maintenance, high-return investment in a thriving rental market. The dedicated garages offer added value and convenience for tenants, enhancing the property's appeal and rental income potential. The property's excellent condition and desirable features make it an attractive option for both seasoned investors and those new to real estate investment. This is a rare opportunity to acquire a well-maintained, income-producing property in a prime location. The asking price is $600,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PUD · Adrian, MIAdrian. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.