116 Stoddard St Charlotte, MI 48813
- Commercial real estate
- 2,715 SF
- 0.08 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 116 Stoddard St
- Year built
- 1920
- Lot size
- 0.08 lot acres
- Property size
- 2,715 SF
- Property type
- Commercial real estate
Description
This stabilized, 3-unit apartment building in Charlotte, Michigan presents a compelling investment opportunity. Priced at $167,000, this Class C property boasts a strong 9.62% cap rate and a net operating income (NOI) of $16,071. The 2,715 square foot building, constructed in 1920, sits on a 0.084-acre lot and includes four parking spaces. The property features two well-maintained, three-bedroom, 1.5-bathroom townhouse-style units and one one-bedroom, one-bathroom unit (accessed from the rear upper level). All three units are currently 100% occupied, providing immediate cash flow. While minor exterior repairs are needed, the property offers significant potential for long-term appreciation. The building is zoned R-11 OLD MULIT FAM. This is an excellent opportunity for investors seeking a stable, income-generating asset in a desirable location. Note that tenant rights are in place. Serious inquiries only.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Eaton
- State
- Michigan
- Longitude
- -84.835072712409
- Latitude
- 42.566584141561
