5645 E Grand River Avenue, Howell, MI 48843

Howell
Local realty services provided by:ERA Greater North Properties
5645 E Grand River Avenue,Howell, MI 48843
$889,900
Virtual Tour
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: ryann brier
Office: united realty services
MLS#:26057768
Source:MI_MICHRIC

Price summary

  • Price:$889,900

About this home

NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property — fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passive income investor seeking a low-maintenance, income-producing asset. Unit mix: 3 studio units + 7 one-bedroom/one-bath units — a diversified, in-demand mix that appeals to a broad tenant base and supports strong occupancy. 100% occupied with a stable, diversified rent roll: a mix of Section 8 / state-paid housing assistance tenants and conventional month-to-month tenants, providing reliable, partially government-backed cash flow with built-in rent stability. Efficiently managed, turnkey operation — a new roof and new tankless water heater mean major capex is already handled, minimizing...

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Home facts

  • Year built:1950
  • Listing ID #:26057768
  • Added:1 day(s) ago
  • Updated:October 31, 2026 at 09:31 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Michigan Basement

Heating and cooling

  • Heating:Forced Air
  • Central air:Yes

Structure and exterior

  • Year built:1950
  • Lot area:1 Acres
  • Construction Materials:Vinyl Siding, Wood Siding

Finances and disclosures

  • Price:$889,900
  • Tax amount:$7,061 (2025)

Parking

  • Total parking spaces:15

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