801 S Mill St
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801 S Mill St
7 Unit Apartment Building $623,687 CAD ($89,098 CAD/Unit) 9.21% Cap Rate Clio, MI 48420
Investment Highlights
- All Units Completely Remodeled
- 100% Occupied
- Conveniently Located
Executive Summary
Charming 7 unit apartment complex conveniently located across from VGs and within walking distance to schools and shopping. Each unit has a separate electric, water heater and heat source. Exterior remodeled in 2017, including siding, roof and asphalt. All units completely remodel between 2020 and 2022.There are 3 one bedroom apartments, 1 two bedroom apartment, 1 three bedroom apartment, 1 efficiency apartment and a separate small house with one bedroom. Individual apartment showings contingent upon an approved purchase agreement and proof of funds.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$88,705
|
$26.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,705
|
$26.66
|
| Taxes |
$11,150
|
$3.35
|
| Operating Expenses |
$20,110
|
$6.04
|
| Total Expenses |
$31,259
|
$9.40
|
| Net Operating Income |
$57,446
|
$17.27
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $88,705 |
| Annual Per SF | $26.66 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $88,705 |
| Annual Per SF | $26.66 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,150 |
| Annual Per SF | $3.35 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $20,110 |
| Annual Per SF | $6.04 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $31,259 |
| Annual Per SF | $9.40 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $57,446 |
| Annual Per SF | $17.27 |
Property Facts
| Price | $623,687 CAD | Property Subtype | Apartment |
| Price Per Unit | $89,098 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.95 AC |
| Cap Rate | 9.21% | Building Size | 3,327 SF |
| Gross Rent Multiplier | 7 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2022 |
| Price | $623,687 CAD |
| Price Per Unit | $89,098 CAD |
| Sale Type | Investment |
| Cap Rate | 9.21% |
| Gross Rent Multiplier | 7 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.95 AC |
| Building Size | 3,327 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2022 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
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Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 51-23-100-003 | Total Assessment | $164,749 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $11,150 CAD ($3.35 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
51-23-100-003
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$164,749 CAD
Annual Taxes
$11,150 CAD ($3.35 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | Commercial (Commercial Zoned District) |
| Commercial (Commercial Zoned District) |
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801 S Mill St
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