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230 N Corning St
Farwell, MI 48622
Corning Apartments · Multifamily Property For Sale
·
16 Units
Investment Highlights
- The property is in receivership and will require court approval of the purchase agreement.
- Well-maintained exterior materials ensure low facade up keep
- Interior finishes recently refreshed in some units
- Multifamily configuration ideal for investor cash flow
- Purpose-built common areas streamline tenant access
- Thoughtful floor plan supports efficient leasing cycles
Executive Summary
230 & 260 North Corning Street is a multi-family investment. The property offers 16 apartments tailored for long-term tenancy and comfortable living. Durable exterior materials and purposeful common areas support efficient property management while preserving tenant satisfaction. The floor plan balances private residence spaces with practical circulation patterns, enabling straightforward leasing and maintenance operations. Recent interior updates to several units enhance the overall resident experience while remaining budget-friendly for ongoing capital planning. This property suits investors seeking stable occupancy in an easy to care-for asset.
Property Facts
| Price Per Unit | $60,938 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.99 AC |
| Cap Rate | 8.04% | Building Size | 11,120 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 17.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Commercial - Commercial Zoned District | ||
| Price Per Unit | $60,938 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 11,120 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 17.99/1,000 SF |
| Zoning | Commercial - Commercial Zoned District |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Walk-In Closets
Property Taxes
| Parcel Number | 041-209-005-01 | Improvements Assessment | $186,928 |
| Land Assessment | $18,000 | Total Assessment | $204,928 |
Property Taxes
Parcel Number
041-209-005-01
Land Assessment
$18,000
Improvements Assessment
$186,928
Total Assessment
$204,928
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