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$889,900

5645 E Grand River Avenue, Howell MI, 48843-9196

Price per sqftN/A
Built in1950
Property typeResidential

Overview

Active

Listed Oct 30, 2026

Updated 7 days ago

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.

$5,921/mo

Est. mortgage payment based on a $889,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
70567421

Interior Features

Heating
Yes
Basement
Yes

Exterior Features

Lot Size
1 Acre

Other Property Details

Taxes
$7,061
Tax Frequency
Annually
Municipality
Genoa Twp
MLS provider logo

Listed by Ryann Brier with United Realty Services
Listing Contact: 734-210-8543 

Based on information originating from the MiRealSource as of 11/1/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

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Data last updated on 11/1/2026 at 2:54 AM UTC

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