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2957 Carr St
Flint, MI 48506
Lakeside Apartments · Multifamily Property For Sale
·
42 Units
PROPERTY FACTS
| No. Units | 42 | Building Size | 25,674 SF |
| Property Type | Multifamily | Average Occupancy | 1% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1968 |
| Building Class | F | Parking Ratio | 2.52/1,000 SF |
| Lot Size | 2.29 AC | ||
| Zoning | A-2 - Single-Family Medium Density | ||
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | F |
| Lot Size | 2.29 AC |
| Building Size | 25,674 SF |
| Average Occupancy | 1% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 2.52/1,000 SF |
| Zoning | A-2 - Single-Family Medium Density |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
ABOUT 2957 CARR ST , FLINT, MI 48506
Lakeside Apartments is in an excellent and rare to find lake front location, close to bus lines and golf course. Riding on Flint’s strong economic comeback, this property is an ideal value-add opportunity located at 2957 Carr St. in Flint, Michigan. Lakeside Apartments consists of a mix of five ranch style and 2-story California style buildings and thirty four (34) one bedroom, one bathroom units and eight (8) two Bedroom, one bathroom units. It has ample surface parking. Built in 1968, each one of the five buildings has all brick exterior. The complex boasts 25,674 Sq.ft. of usable area situated on 2.29 acres. Each building has a spacious mechanical/workroom that can be used for laundry. The Lakeside Apartments are currently vacant which offers a quick start for renovations. For estimation and demonstration purposes, this renovation could range between $315,000 to $420,000 depending on finish. Please use your own estimates. This is a fantastic opportunity to purchase an excellent value add apartment complex for a bargain price! Free and Clear Title. With the Lakeside Apartments in a unique setting, sellers planned to reposition the building into senior community. Projected revenue is well over 1 million with NOI around 500K. Contact broker for P&L. All start up work are done: survey, plan, demolition, site clean up, new electric pole. Obsolete property tax abatement program potentially saving 200K in property tax over 10 years. University of Michigan Flint, Lear Corporation, Hurley medical center, downtown Flint, a few of the leading contributors to the long-term rejuvenation of the area, are all within 5 miles of the property.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 34 | - | 597 |
| 2+1 | 8 | - | 657 |
PROPERTY TAXES
| Parcel Number | 47-33-302-006 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $72,300 |
PROPERTY TAXES
