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2345 Cedar St 5 Unit Apartment Building $238,900 ($47,780/Unit) Holt, MI 48842
Investment Highlights
- Near Public Transportation
- Near shopping
- Convenient access to all major roads
Executive Summary
Two Structures on One site. A 4-unit and a 1-unit, for a total of 5 units. Long Term owner now retiring. Property has ample parking, and is in a very convenient location. Currently the owner pays: GFA Heat in Main building only; Water; Sewer; Lawncare; and Snow Removal. Tenants pay for Electricity in both buildings and also Gas in Building 2 - Unit 5. Note - Unit 5 is in Building 2 and is a 1 Bedroom & 1 Bath apartment.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$37,500
|
$12.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$37,500
|
$12.48
|
| Taxes |
$5,501
|
$1.83
|
| Operating Expenses |
$5,357
|
$1.78
|
| Total Expenses |
$10,858
|
$3.61
|
| Net Operating Income |
$26,642
|
$8.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $37,500 |
| Annual Per SF | $12.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $37,500 |
| Annual Per SF | $12.48 |
| Taxes | |
|---|---|
| Annual | $5,501 |
| Annual Per SF | $1.83 |
| Operating Expenses | |
|---|---|
| Annual | $5,357 |
| Annual Per SF | $1.78 |
| Total Expenses | |
|---|---|
| Annual | $10,858 |
| Annual Per SF | $3.61 |
| Net Operating Income | |
|---|---|
| Annual | $26,642 |
| Annual Per SF | $8.87 |
Property Facts
| Price | $238,900 | Building Class | C |
| Price Per Unit | $47,780 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 3,005 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R1-D - R1 - D See attachment | ||
| Price | $238,900 |
| Price Per Unit | $47,780 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 3,005 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | R1-D - R1 - D See attachment |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Family Room
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 - 500 |
| 1+1 | 2 | - | 500 - 580 |
| 2+1 | 1 | - | 500 - 600 |
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Property Taxes
| Parcel Number | 25-05-15-253-013 | Total Assessment | $150,100 |
| Land Assessment | $18,800 | Annual Taxes | $5,501 ($1.83/SF) |
| Improvements Assessment | $131,300 | Tax Year | 2025 |
Property Taxes
Parcel Number
25-05-15-253-013
Land Assessment
$18,800
Improvements Assessment
$131,300
Total Assessment
$150,100
Annual Taxes
$5,501 ($1.83/SF)
Tax Year
2025
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2345 Cedar St
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