An affordable multifamily investment opportunity is available in Flint, Michigan! Priced at $36,900, this three-unit Colonial-style property offers approximately 2,348 square feet, featuring a total of 5 bedrooms, 4 full bathrooms, and a quarter-acre lot.
Built in 1915, the property features three separate living units, private entrances, a partial unfinished basement, and parking listed for up to 10 vehicles. Its layout provides an interesting opportunity for investors looking to renovate an older multifamily building and potentially establish multiple rental income streams.
One of the three units is described as being closest to livable condition, with three bedrooms and two bathrooms. According to the listing, this unit primarily needs cleaning and cosmetic improvements, subject to inspection and any required repairs.
The other two units require more substantial rehabilitation. Previous frozen and burst plumbing caused significant water damage, affecting both the upper unit and the apartment below. Buyers should carefully evaluate the plumbing, structural components, electrical systems, and possible moisture-related damage before planning renovations.
The property also includes forced-air natural gas heating, aluminum siding, a block foundation, an asphalt roof, a fenced backyard, a porch, and an additional storage shed. With approximately 0.25 acres and multiple parking spaces, the exterior offers practical features for a future multifamily rental property.
For investors, the three-unit configuration creates the possibility of a phased renovation strategy. The apartment closest to completion could potentially be prioritized before moving on to the more extensive work required in the remaining units, provided all necessary inspections and occupancy requirements are satisfied.
Property Highlights:
- Asking Price: $36,900
- 3 Separate Residential Units
- 5 Bedrooms
- 4 Full Bathrooms
- Approximately 2,348 Sq Ft
- Approximately 0.25 Acres
- Built in 1915
- Colonial-Style Architecture
- Partial Unfinished Basement
- Forced-Air Natural Gas Heating
- Private Unit Entrances
- Parking Listed for Up to 10 Vehicles
- Fenced Backyard
- Additional Storage Shed
- Aluminum Siding
- Block Foundation
- Asphalt Roof
- Reported Annual Property Taxes: $826
- Cash Purchase Terms
- Multifamily Renovation and Rental Potential
This property is best suited for investors, contractors, and experienced buyers prepared to take on a substantial renovation project. Its low asking price and existing three-unit layout make it an interesting opportunity for someone looking to restore an older building and potentially turn it into a multi-unit income-producing property.
The actual investment potential will depend on renovation expenses, property inspections, legal rental status, and local market conditions.
Listed on Zillow
