Address
504-506*** 1st Street, Jackson, MI
Price
$ 999,999
Property Attributes
- MLS#26030627
- TypeMulti-Family
- Listing Status Active
- CountyJackson
- CityJackson
- Zip49203
- Style5+ Units
- Year Built1930
- Taxes$ 1753
- Price$ 999,999
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.19 Acres
Data Source:
Michigan Regional Information Center (MICHRIC)
Property Description
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
| Price History | |
|---|---|
| 6/19/2026 | Listed $1,100,000 |
| 9/27/2026 | 10$999,999 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard,Radiant |
| Utilities | Natural Gas Available,Electricity Available,Natural Gas Connected,Electricity Connected |
| Possession | Close Of Escrow |
| Construction Materials | Wood Siding,Other |
| Year Built | 1930 |
| Tenant Pays | Electric,Gas |
| Township | Jackson City |
| Property Subtype | 5+ Units |
| Tax Year | 2025 |
| OwnerPays | Trash Collection,Water,Sewer |
| County | Jackson |
| New Construction | false |
| Property Type | Multi Family |
| Attached Garage | false |
| Status | Active |
| City | Jackson |
| High School District | Jackson |
| Number Of Units Total | 8 |
| Lot Size Units | Acres |
| Lot Size Square Feet | 8276 |
| Listing Terms | Cash,Conventional,Contract |
| Land Lease Y/N | No |
| Tax Annual Amount | 1753 |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Rent Control Y/N | No |
| Standard Status | Active |
| Tax Assessed Value | 91100 |
| MobileHomeRemainsYN | No |
| Legal Description | LOT 4 BLK 8 LIVERMORE WOOD & EATON'S ADD |
| Senior Community | None |
Interior Features
| Basement | Full |
|---|---|
| Basement (Y/N) | true |
| Heating Y/N | true |
| Laundry Features | Gas Dryer Hookup,In Basement,Washer Hookup |
Exterior Features
| Parking Features | Asphalt,Driveway |
|---|---|
| Total Parking | 12 |
| Lot Size Area | 0.19 |
| Number of Buildings | 2 |
| Spa | No |
| Lot Dimensions | 62 x 135 |
| Lot Size Acres | 0.19 |
| Waterfront Y/N | false |
| Crops Included Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 49203
Price
Taxes
Year Built
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update September 28, 2026 7:20 PM UTC
Greater Lansing Association of Realtors® (GLAR) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
