70 N Lester Avenue, White Cloud, MI 49349 (MLS# 24054434)

70 N Lester Avenue, White Cloud, MI 49349

$2,200,000

Property Type: Multi Family Lot Size (sq. ft.): 135,817 Status: Sold

Current Price: $2,200,000 List Date: 6/03/2025 Last Modified: 10/16/2025

Overview

Description

32 unit apartment building in a growing submarket, with an attractive unit mix. There is coin-operated laundry and storage units, in each building. The electrical and gas are individually metered. Rents are below market. Value add opportunity to increase rents to market as leases expire. This could be a great opportunity for your next cost segregation study or 1031 exchange. Many capital improvements have been completed, some renovations completed are: common area updates, roof and gutters, exterior doors, appliances, unit renovations, parking lot repairs and much more.

Listing Details MLS# 24054434

Location Property Info

County: Newaygo
Street #: 70
Street Direction: N
Street Name: Lester
Suffix: Avenue
State: MI
Zip Code: 49349

General Property Info

Lot Measurement: Acres
Lot Square Footage: 135817
Lot Acres: 3.12
Lot Dimensions: 327 x 399
Year Built: 1980
New Construction: No
Cert of Compliance: No
Road Frontage: 327
Total # Units: 32
# of Diff Unit Floor Plans: 4
Total # Bldgs: 2
Total Parking Spaces: 40
Waterfront: No
School District: White Cloud

Tax Info

Tax ID #: 11-32-300-039
Taxable Value: 300293
SEV: 311100
For Tax Year: 2022
Seller's Annual Property Tax: 27425.33
Tax Year: 2023
Spec Assessment & Ty: NK
Zoning: 201 Commercial

Remarks Misc

Directions: North on 37. Turn left(W) on Pine Hill St, turn right (N) on Lester

Status Change Info

Under Contract Date: 2025-07-30
Sold Date: 2025-10-15

More Information

Access Feat

Accessibility Features: No

Unit 1

Unit Description: 1 BR
Identical Units: 8
SqFt: 625
Occupied: Yes
Monthly Rent: 731
Bathrooms: Yes
Full Baths: Yes

Unit 2

Unit Description: 2 BR
Identical Units: 20
SqFt: 800
Occupied: Yes
Monthly Rent: 913
Bathrooms: Yes
Full Baths: Yes

Unit 3

Unit Description: 3 BR
Identical Units: 2
SqFt: 800
Occupied: Yes
Monthly Rent: 1060
Bathrooms: Yes
Full Baths: Yes

Unit 4

Unit Description: 4 BR
Identical Units: 2
SqFt: 1045
Occupied: Yes
Monthly Rent: 1045
Bathrooms: Yes
Full Baths: Yes

Property Features

Laundry Features: Common Area Exterior Material: Vinyl Siding; Wood Siding Roofing: Composition; Metal Substructure: Slab Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: Public Sewer; Public Water Extras: Garages; Sep Electric Meter; Sep Gas Meter Owner Pays: Sewer; Trash Collection; Water Tenant Pays: Electric; Gas Heat Source: Natural Gas Heat Type: Hot Water Air Conditioning: Wall Unit(s) Terms Available: Cash; Conventional Possession: Close Of Escrow Sale Conditions: None

Listing Office: MOXIE Real Estate + Development

Listing Agent: Shawn Jacobs

Last Updated: October - 16 - 2025

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