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5201 N Dort Highway Flint, MI 48505
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Key Details
Sold Price $275,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 24,500 sqft
Price per Sqft $11
Subdivision Mi
MLS Listing ID 21581006
Sold Date 01/31/20
Style 1 Story
Full Baths 24
Year Built 1960
Annual Tax Amount $5,914
Lot Size 2.550 Acres
Acres 2.55
Lot Dimensions IRREGULAR
Property Description
46 Site Mobile Home Park with Significant Upside All Park Owned homes 2.55 Acre Site 2.56 Acres Excess Land for Future Development. Market Lot Rents Upside with Vacant Lots and Existing Homes City Sewer & Water Flint is a dense and diverse community with a solid base of population in the manufacturing industry and is the largest city and seat of Genesee County. The property is truly a forgotten remnant surrounded an established market. The location is centralized and accessible to multiple highways and just north of downtown Flint. The opportunity stems from the low occupancy and previous lack of investment. Proper management and improvements will increase the occupancy and can position the average lot rent closer to market. The financial scenario indicates a significant return with conservative projections on growth. Minimal investment is required to reengage the project with multiple additional possible improvements to increase value and revenue.
Location
State MI
County Genesee
Area Flint (25023)
Zoning Industrial
Rooms
Basement Poured
Interior
Heating Forced Air
Exterior
Exterior Feature Vinyl Siding
Building
Story 1 Story
Foundation Slab
Water Public Water
Structure Type Vinyl Siding
Schools
School District Flint City School District
Others
Ownership Private
Energy Description LP/Propane Gas
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with LPS